Risk Management Measurement and Assessment Paper

Risk Management Measurement and Assessment Paper - Risk...

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Risk Management University of Phoenix FIN 415 September 22, 2008 Introduction Corporate risk is something that many organizations consider in being able to function with day-to-day activities. Corporate risk deals with being able to manage the 1
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Risk Management different types of risk in an organization. Some key factors of risk can include; identification issues, accounting issues, financial impacts towards the organization, being able to allocate resources for the organization, as well as maintaining policies and procedures. With constant changes in the world organizations are more prone towards more risks. Organizations need to be able to maintain the risks so that the business can grow and keep up with the changes that occur in everyday business. Three Benefits of Risk Management The relevance of risk to organizations primarily deals with a variety of levels that the type of risk falls into. Risk is a big concern in many organizations because there can be losses that many organizations may face. The benefits of risk management are to be able to meet objectives of the organization. Risks need to be maintained in a timely manner to be able to get thorough results. Errors are also less likely to occur when risk management is in place. The organization will be able to continuously improve on internal structures and policies. Another benefit of risk management is being able to act quickly when an issue arrives. Risk management supports the business planning and strategic planning of an organization and if a possible risk comes up, the risk management team can quickly act upon it. Risk Management Techniques A risk management technique that many people find very useful is decision trees. Decision trees are diagrams that show a decision that needs to be made and the steps or 2
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Risk Management results leading to the final decision. There are a number of options to choose when a decision needs to be made. When determining which choice is the best, a decision tree is good for visualizing possible outcomes of a scenario. When there is more than one decision that needs to be made a decision tree is useful in determining the steps in the tree
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Risk Management Measurement and Assessment Paper - Risk...

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