risk_management_in_corporate

May 20th, 2015
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Arkansas Tech University
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The purpose of Risk Management is to identify potential problems before they occur, so that risk-handling activities may be planned and invoked as needed across the life of the product or project to mitigate adverse impacts on achieving objectives.

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Ioan Gheorghe DUBARMaster AES, Anul IA risk is a combination of the probability (OCCURRENCE) of an event,and its consequence (SEVERITY/IMPACT)The purpose of Risk Management is to identify potential problemsbefore they occur, so that risk-handling activities may be plannedand invoked as needed across the life of the product or project tomitigate adverse impacts on achieving objectives.CMMI 2001The organization shall prepare contingency plans to satisfycustomer requirements in the event of an emergency such asutility interruptions, labour shortages, key equipment failure andfield returns.ISO TS 16949 Risk Management Planning / Strategy decide how to approach, plan andexecute the risk management activities for a project / company. Risk Identification determining which risks might affect the project anddocumenting their characteristics. Qualitative Risk Analysis prioritizing risks for subsequent further analysisor action by assessing and combining their probability of occurrence andimpact. Quantitative Risk Analysis numerically analyzing the effect on overallproject objectives of identified risks. Risk Response Planning developing options and actions to enhanceopportunities, and to reduce threats to project objectives. Risk Monitoring and Control tracking identified risks, monitoring residualrisks, identifying new risks, executing risk response plans, and evaluatingtheir effectiveness throughout t

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