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RISK MANAGEMENT

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RISK MANAGEMENT Raime Sultan Y lmazlar 2010503070 Industrial Engineering Department, Dokuz Eyl l University,Turkey Uncertainty A general lack of knowledge (no lack ... – PowerPoint PPT presentation

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Title: RISK MANAGEMENT


1
RISK MANAGEMENT
  • Raime Sultan Yilmazlar 2010503070
  • Industrial Engineering Department,
  • Dokuz Eylül University,Turkey

2
Uncertainty
  • A general lack of knowledge (no lack),
    information about the contents
  • There are some doubts as to have information
    about the content

3
threat opportunity Risk
  • Uncertainty
    Danger

  • Risk of incurring losses Negation

RISK
4
Risk Management
  • What went wrong ?
  • What can be done before the incident ?
  • What can be done when the event occurs ?

5
  • An appropriate risk management is not reactive,
    is proactive.
  • Protects against surprises,and reduces the effect
    of negative results.
  • Risks are translatable to advantage.
  • Performance of the project, completed within
    budget and time limits are appropriate.

6
Types Of Risk Management
  • Operational Risk Management
  • Financial Risk Management
  • Market Risk Management
  • Credit Risk Management
  • Quantitative Risk Management
  • Commodity Risk Management
  • Bank Risk Management

7
  • Nonprofit Risk Management
  • Currency Risk Management
  • Enterprise Risk Management
  • Project Risk Management
  • Integrated Risk Management
  • Technology Risk Management
  • Software Risk Management

8
Operational Risk Management
  • Operational risk management deals with
    technical failures and human errors.

9
Financial Risk Management
  • Financial risk management handles non-payment
  • of clients and increased
  • rate of interest.

10
Market Risk Management
  • Deals with different types of market risk, such
    as interest rate risk, equity risk, commodity
    risk, and currency risk.

11
Credit Risk Management
  • Deals with the risk related to the probability
    of nonpayment from the debtors.

12
Quantitative Risk Management
  • An effort is carried out to numerically
    ascertain the possibilities of the different
    adverse financial circumstances to handle the
    degree of loss that might occur from those
    circumstances.

13
Commodity Risk Management
  • Handles different types of commodity risks,
    such as price risk, political risk, quantity risk
    and cost risk.

14
Bank Risk Management
  • Deals with the handling of different types of
    risks
  • faced by the banks, for example, market risk,
    credit
  • risk, liquidity risk, legal risk, operational
    risk and
  • reputational risk.

15
Nonprofit Risk Management
  • This is a process where risk management
    companies offer risk management services on a
    non-profit seeking basis.

16
Currency Risk Management
  • Deals with changes in currency prices.

17
Enterprise Risk Management
  • Handles the risks faced by enterprises in
  • accomplishing their goals.

18
Project Risk Management
  • Deals with particular risks associated with the
    undertaking of a project.

19
Integrated Risk Management
  • Integrated risk management refers to
    integrating risk data into the strategic decision
    making of a company and taking decisions, which
    take into account the set risk tolerance degrees
    of a department. In other words, it is the
    supervision of market, credit, and liquidity risk
    at the same time or on a simultaneous basis.

20
Technology Risk Management
  • It is the process of managing the risks
    associated with implementation of new technology.

21
Software Risk Management
  • Deals with different types of risks associated
    with
  • implementation of new softwares.

22
4 Main Components Of Risk Management
  • Risk Identification
  • Risk Analysis
  • Risk Mitigation
  • Risk Monitoring

23
Risk Identification
  • Determining what risks or hazards exist or are
    anticipated, their characteristics, remoteness in
    time, duration period, and possible outcomes.

24
Risk Analysis
  • The aim of the risk analysis to carry out
    sufficient information about probability of risk,
    cost, planning and results.

25
Risk Mitigation
  • Risk mitigation intended to reduce the risk of
    being and effect of risk. Occurs as a result
    of countless daily decisions.

26
Risk Monitoring
27
Principles Of Risk Management
  • Create value
  • Be an integral part of organizational processes
  • Be part of decision making
  • Explicitly address uncertainty
  • Be systematic and structured
  • Be based on the best available information
  • Be tailored
  • Take into account human factors
  • Be transparent and inclusive
  • Be dynamic, iterative and responsive to change

28
Risk Assessment
  • A risk assessment is an important step in
    protecting workers and business, as well as
    complying with the law. It helps to focus on the
    risks that really matter in workplace-the ones
    with the potential to cause harm.

29
  • There is always a risk. If there is a no
    activity, there isn't any risk.
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