To sum up, the person in charge of leading and managing this whole event is known as the risk manager. Handling risks properly will ensure smooth operations of the company and prevent any losses regardless of financial or even materials.
RISK MANAGER DESCRIPTION HOW TO
No matter how a company deals with the risks, risk management is very fundamental since it could provide clear planning on how to reduce, avoid, and facing the risks. Acceptance on the contrary is by accepting the risks by having contingency plans should the risk occur. Avoiding is by removing all the root cause of the risks while mitigation is by lowering the financial budget to lower the chances of risks happening. In responding to risk, the most common ones are either avoiding, mitigating, or accepting. Effective risk management would be able to control and handle all the risks that may occur since it encompasses the counter measures for any unwanted scenarios. Risk management, on the other hand, refers to the processes of analysing, identifying, and responding to the risks that may exist in any operations or business of an organization. This is where risk assessment and management come into play. Facing the risks is one thing, but it is more preferable to prevent them or having secure planning on how to handle the risks that may occur. However, the problem lies if the impact brings negative effects. If the impact is positive, that could be advantageous and profiting to the organization. It could be a positive or negative impact. The risk could be defined as the impact that could happen on an operation, goal, task, or planning of an organization.
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