PowerPoint Presentation

SCIENCE FARIDABAD HARYANÄ. Submitted To : Mrs Vinita.

The importance of risk management. Introduction Risk !!! What comes to our mind when we hear this word? We get scared, start getting second thoughts about the thing we are going to do and try to eliminate that risk from that thing. ..

. Process of Risk Management. 1. Identify existing risks.

3. Develop an appropriate response. Once a business entity is set on assessing likely remedies to mitigate identified risks and prevent their recurrence, it needs to ask the following questions: What measures can be taken to prevent the identified risk from recurring?.

When a company assesses its plan for dealing with possible dangers and then implements structures to deal with them, it increases its chances of becoming successful..

Your business has a valuable company resource; if an incident occurred in the organisation that impacted this resource, it may have a detrimental impact on the overall business processes and performance . Let’s assume the probability of the risk occurring is moderate. By looking at the matrix we can see this is a ‘high’ risk, priority area. Identifying a course of action for each risk saves the company time, money, and physical resources ..

Workplace incidents can lead to major PR issues such as negative publicity and a distorted brand image. For example, AGL Energy faced a coal seam gas protest . In 2013, people protested about the hydraulic fracking process AGL participated in. As a result, the company put on hold the development of 66 coal seam gas wells in Western Sydney..

THANK YOU.