Risk
management is the term that is used to describe the identification the
assessment and the causes that causes the risk at any organization followed by
the coordinated and economical application and proper utilization and the usage
of the resource and methods to be developed for use of funds to minimize,
monitor and control the probabilities and reduce the possibilities of impact of
unfortunate events such as risk and losses and maximize the realization of the
opportunities that are available and increase the production to open chances
for more profit and healthy business. The primary
objective of risk management is:
·
The primary
purpose of risk management is to assure
that uncertainty does not deflect the endeavour from the business goals.
·
Is to reduce the chances of risk that may
cause any business or organisation to face losses
·
Another primary
objective is to minimise misuse and
inefficient use of resources and maximise
the utilisation of resources efficiently.
For the construction of any sample plan to manage risks in any organisation it is essential to have complete knowledge about the reasons that can have chances to cause
risk:
There are specific factors and sources that cause risk in any organisation:
·
Uncertainty in the financial markets
·
Uncertainty in decision making
·
The improper and
inefficient utilisation of the resources
·
Threats from project failures
Ø
Such as failure in the design of the project
Ø
Failure in the presentation
Ø
Collapse in
production
Ø
Defeat in the sustainable life cycle
·
Problems in
between the employees such as labour strikes.
·
Problems between the national and
international market
·
Transportation problem
·
Problems with an investment that is the distribution
of capital investment
·
Credit risks
·
Legal liabilities
·
Accidents in factories
·
Natural causes and disasters which may also
include deliberate attacks from the adversary
·
Specific events that are
caused due to uncertain and unpredictable reasons.
·
Events are
classified as
Ø
Positive events
Ø
Negative events
Any Software
Engineering Assignment Help before finding a solution to reduce the risk deals with the sources that cause risk
which makes the work more comfortable and
less complicated. Completing such a task allows the students to get insight
into the risk analysis process.
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