May 20th, 2015
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Risk: Risk can be defined as an uncertainty that could have negative or positive impact on expectations or on one or more objectives. Types Of Risk: 1. Business risk 2. Financial risk

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Risk Management Risk: Risk can be defined as an uncertaintythat could have negative or positive impact onexpectations or on one or more objectives. Types Of Risk:1. Business risk2. Financial riskRisk management: RM means identification, assessmentand prioritization of risks followed by coordinated andeconomical application of resources with an objectiveof minimizing the probability & impact of unfortunateevents or to maximize the realization of opportunities.Nature of Risk mgt:1. RM is a process2. Objective oriented process3. ethical, philosophy and social responsibility4. Reporting is essential5. Response to risk6. Economical use of resources7. control is essentialobjectives of Risk mgt:1.Identify the risk and report to top mgt2.Minimise adverse effects of risk(obj mini)3. maximise the benefits of opp4.Render the social responsibilities5. prevent the risk from assuming seriousdimension6. shift fin risk to the third party7. Create the value for the company8. achievement of mission & visionScope of Risk mgt1. & implementing risk mgtrisk identification and analysisassessment and prioritization of riskestablishing org capability for risk handlingReporting of riskInclusion of risk in the cor govetaking ins policyProcess of risk mgt1.2.Planning of risk mgtIdentification of risks- Sources analysis- problem analysis- objective base risk mgt- scenario based risk mgt- common risk checking- taxon

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