Risk Management
Risk Management is the process of making and
carrying out decisions that will minimize the adverse effects of
accidental losses upon the organization. Making these decisions
requires the following 5 steps in the decision process:
-
Analyze Loss
Exposures
-
Examine
Alternative Risk Management Techniques
-
Select RM
Techniques
-
Implement
Techniques
-
Monitor Results
Carrying out these decisions requires the risk
management professional to perform the 4 management functions:
-
Plan
-
Organize
-
Lead Control
** George L. Head. Stephen Horn
II, Essentials of the Risk Management Process
