What is Risk

Risk is a concept. It is a measure of uncertainty (probabilities). In the business process, the uncertainty involves the achievement of organizational objectives. Risk may … Continue Reading

Cost of Risk

  1. Greater risk usually implies greater cost.
  2. Cost of risk can be divided into five components which are given below … Continue Reading

Cost Trade offs

Risk Types

Risk types can broadly be categorized into;
a. Macro Risk Levels, and
b. Micro Risk Levels … Continue Reading

What is Risk Analysis

Risk Analysis – Method

  • Identify, characterize, and assess threats
  • Assess the vulnerability of critical assets to specific threats … Continue Reading

Risk Analysis – Process

Step # 1 – Risk Identification

The first step in the process of managing risk is to identify potential risks. Risks are about events that, when triggered, cause problems. Hence, risk identification can start with the source of problems, or with the problem itself. This can be done in two ways … Continue Reading

Managing Assessed Risk

Risk Avoidance

This includes not performing an activity that could carry risk. An example would be not buying a property or business in order to not take on the legal liability that comes with it. Another would be not flying in order not to take the risk that the airplane were to be hijacked … Continue Reading