report in risk management
TRANSCRIPT
-
7/30/2019 Report in Risk Management
1/20
Al-Qassim University
College of engineering
General Engineering Department
GE 402 Project Management
A Report in:
Submitted by:
Name: Muneer Jameel Al.Mutairi.
PIN: 425040010
Submitted to:
Prof : Tomas U. Ganiron
Date submitted\ 18-5-2010Next
-
7/30/2019 Report in Risk Management
2/20
Mouse Click to move on to the next slideNext
What is Risk Management?
Who uses Risk Management?
How is Risk Management used?
Risk Management in Customs
-
7/30/2019 Report in Risk Management
3/20
Mouse Click to move on to the next slide Next
Good management practice
Process steps that enable improvementin decision making
A logical and systematic approach
Identifying opportunities
Avoiding or minimising losses
What is Risk Management?
-
7/30/2019 Report in Risk Management
4/20
Mouse Click to move on to the next slide Next
Risk Management is the name givento a logical and systematic methodof identifying, analysing, treatingand monitoring the risks involved in
any activity or process.
What is Risk Management?
-
7/30/2019 Report in Risk Management
5/20
Mouse Click to move on to the next slide Next
Risk Management is amethodology that helps managersmake best use of their available
resources
What is Risk Management?
-
7/30/2019 Report in Risk Management
6/20
Next
Risk Managementpractices are widely used
in public and the privatesectors, covering a widerange of activities oroperations.
These include:
Who uses Risk Management?
Finance andInvestment
Insurance Health Care
Public
Institutions
Governments
-
7/30/2019 Report in Risk Management
7/20
Next
Effective Risk Managementis a recognised and valued skill.
Educational institutions have formalstudy courses and award degrees in RiskManagement.
The Risk Management process is wellestablished. (International RM processstandards.)
Who uses Risk Management?
-
7/30/2019 Report in Risk Management
8/20
Next
Risk Management isnow an integral part of business
planning.
Who uses Risk Management?
-
7/30/2019 Report in Risk Management
9/20
The Risk Management
process steps are ageneric guide forany organisation,regardless of the
type of business,activity or function.
How is Risk Management used?
Next
There are7steps
in the RMprocess
-
7/30/2019 Report in Risk Management
10/20
Next
The basic process steps are:
Establish the context
Identify the risks
Analyse the risks
Evaluate the risks
Treat the risks
-
7/30/2019 Report in Risk Management
11/20
Next
Risk is dynamic and subject to constantchange, so the process includescontinuing:
Communication & consultation
Monitoring and review
and
-
7/30/2019 Report in Risk Management
12/20
Next
The Risk Management process:
The strategic and organisational contextin which risk management will takeplace.
For example, the nature of yourbusiness, the risks inherent in your
business and your priorities.
Communicate & consult
Establish the context
-
7/30/2019 Report in Risk Management
13/20
Next
The Risk Management process:
Communicate & consultMonitor and review
Defining types of risk, for instance,Strategic risks to the goals and
objectives of the organisation.
Identifying the stakeholders, (i.e.,whois involved or affected).
Past events, future developments.
Identify the risks
-
7/30/2019 Report in Risk Management
14/20
Next
The Risk Management process:
Communicate & consultMonitor and review
Analyse the risks
How likely is the risk event to happen?
(Probability and frequency?)What would be the impact, cost orconsequences of that event occurring?(Economic, political, social?)
-
7/30/2019 Report in Risk Management
15/20
Next
The Risk Management process:
Communicate & consultMonitor and review
Evaluate the risks
Rank the risks according to
management priorities, by riskcategory and rated by likelihood andpossible cost or consequence.
Determine inherent levels of risk.
-
7/30/2019 Report in Risk Management
16/20
Next
The Risk Management process:
Treat the risks
Develop and implement a plan with specificcounter-measures to address theidentified risks.
Consider:
Priorities (Strategic and operational)
Resources (human, financial and technical)
Risk acceptance, (i.e., low risks)
-
7/30/2019 Report in Risk Management
17/20
Next
The Risk Management process:
Document your risk management plan anddescribe the reasons behind selecting the
risk and for the treatment chosen.
Record allocated responsibilities, monitoringor evaluation processes, and assumptions onresidual risk.
Communicate & consultMonitor and review
Treat the risks
-
7/30/2019 Report in Risk Management
18/20
Next
The Risk Management process:
Communicate & consult
Risk Management policies and decisionsmust be regularly reviewed.
Monitor and review
In identifying, prioritising and treating risks,organisations make assumptions and decisions
based on situations that are subject tochange, (e.g., the business environment,trading patterns, or government policies).
-
7/30/2019 Report in Risk Management
19/20
Next
TheRisk Management process:
Risk Managers must monitor activities andprocesses to determine the accuracy of
planning assumptions and the effectivenessof the measures taken to treat the risk.
Methods can include data evaluation,
audit, compliance measurement.
Communicate & consult
Monitor and review
-
7/30/2019 Report in Risk Management
20/20
Next
The Risk Management process:
Establish the context
Identify the risks
Analyse the risks
Evaluate the risks
Treat the risks