Effective Risk Management. How can appropriate practices assist in minimizing risk?


Essay, 2019

13 Pages, Grade: 67


Abstract or Introduction

This paper will analyze the concept of Risk Management. The main aim lies in discussing how Risk Management can be achieved in the most effective way and additionally, who, in an organization, will take responsibility for an effective management. It will be argued that the question of how responsibility is distributed within an organization is central to the effectivity of Risk Management. How is the risk measured, ranked and outlined by the organization and the management?

The author will outline a possible strategy on how to incorporate a risk management strategy in the form of a visual diagram into a project. Finally, it will be discussed how a professional execution of Risk Management can result in reducing the Risk, its impact on the project and how an effective Risk Management system can be supported and sustained by proper communication throughout the organization

Details

Title
Effective Risk Management. How can appropriate practices assist in minimizing risk?
College
University of Salford
Grade
67
Author
Year
2019
Pages
13
Catalog Number
V942882
ISBN (eBook)
9783346276094
ISBN (Book)
9783346276100
Language
English
Tags
Risk Management, Supply Chain Risk, RIsk
Quote paper
Patrick Wiget (Author), 2019, Effective Risk Management. How can appropriate practices assist in minimizing risk?, Munich, GRIN Verlag, https://www.grin.com/document/942882

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