Risk management aims to help organizations prepare, evaluate and take action on their potential risks with a well-devised plan to increase the probability of their success and reducing any hazard and failure. In addition, risk management is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities. Risks can come from uncertainty in financial markets, threats from project failures, legal liabilities, credit risk, accidents, or events of uncertain or unpredictable cause.
Our consultants analyze and advise effective risk management. The risk management is relevant to any organization. It should form part of the culture of the organization, with an effective policy and program led by top management with clear responsibilities laid down for every manager and employee to be involved in the management of risk. It supports accountability, performance measurement and reward thus promoting efficiency at all levels.
In our risk management system, a prioritization process is followed whereby the risks with the greatest loss (or impact) and the greatest probability of occurring are handled first, and risks with lower probability of occurrence and lower loss are handled in descending order. In practice the process of assessing overall risk can be difficult, and balancing resources used to mitigate between risks with a high probability of occurrence but lower loss versus a risk with high loss but lower probability of occurrence can often be mishandled.
Our professional Risk Management consists of several points as follow methods:
- Objectives-based risk identification
- Scenario-based risk identification
- Market monitoring-based risk identification
- Taxonomy-based risk identification
Risk management requires a detailed knowledge and understanding of the organization and the processes involved in the business. Our consultants support and protect your organization from our reliable risk management system.