SOPHO_RISK ASSESSMENT CONSIDERATIONS - Copy

SOPHO_RISK ASSESSMENT CONSIDERATIONS - Copy - RISK...

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RISK ASSESSMENT CONSIDERATIONS SB – CUIB 2015/2016 BNF 204 RISK MANGEMENT Ulrich D’POLA KAMDEM ( @dpolovich ) Buea, 23th May 2016
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PLAN OF THE PRESENTATION Importance of risk assessment Approaches to risk assessment Risk assessment techniques (Risk Matrix, Risk Appetite, Risk Perception)
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Risk recognition and risk rating together form the risk assessment component of the risk management process. Risk assessment involves the recognition of risks and the rating of them to determine the significant risks facing the organization, project or strategy. Risk assessment is the main risk management input into strategy formulation. I. IMPORTANCE OF RISK ASSESSMENT
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CONTD’ AND ENDS The purpose of risk assessment is to identify the significant risks that could impact the selected feature ( corporate objectives, stakeholder expectations, core processes and key dependencies ). It should be considered as the starting point of the risk management process and it is certainly not an end in itself. An important feature of undertaking a risk assessment is to decide whether the identified risk is going to be evaluated at the inherent level or at the current (or residual) level.
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II. APPROACHES TO RISK ASSESSMENT There are several approaches that can be taken when planning how to undertake risk assessment.
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