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Risk Management Overview:
Systematic approach to minimize the impact of uncertainty associated with organizational hazards. This
discipline has been separated into two distinct categories:
1) Traditional - risk stemming from physical (natural disasters, fires, accidents, and death) or legal
causes (lawsuits)
2) Financial – risk mitigated through the trading of financial instruments.
The primary process steps undertaken include:
Assessment – Evaluation of level of situational impact to the organization
Strategic Planning – Development of one or multiple options to minimize adverse impact to organization.
Strategic Implementation include the following:
Avoidance
Reduction (negative impact)
Retention (accepting level of risk)
Transfer (purchase of insurance)
Systematic approach to minimize the impact of uncertainty associated with organizational hazards. This
discipline has been separated into two distinct categories:
1) Traditional - risk stemming from physical (natural disasters, fires, accidents, and death) or legal
causes (lawsuits)
2) Financial – risk mitigated through the trading of financial instruments.
The primary process steps undertaken include:
Assessment – Evaluation of level of situational impact to the organization
Strategic Planning – Development of one or multiple options to minimize adverse impact to organization.
Strategic Implementation include the following:
Avoidance
Reduction (negative impact)
Retention (accepting level of risk)
Transfer (purchase of insurance)
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