risk management


Also found in: Dictionary, Thesaurus, Medical, Legal, Financial, Acronyms, Wikipedia.

risk management

[′risk ‚man·ij·mənt]
(engineering)
The overall systematic approach to analyzing risk and implementing risk controls.

Risk management

The management of an activity, accepting a level of risk which is balanced against the benefit of the activity, usually based on an economic assessment.

risk management

In the building industry, the systemized practice of avoiding potential risks, such as culpability and liability or legal entanglements.

risk management

The optimal allocation of resources to arrive at a cost-effective investment in defensive measures within an organization. Risk management minimizes both risk and costs. See risk assessment and risk mitigation.
References in periodicals archive ?
David Hilson, in Innovative Risk Management, says risk management requires fresh thinking, namely in the development of effective risk responses.
With implementation of a risk management strategy underway, organizations must also institute a process for the continual evaluation of risk management processes and measures.
Integrating risk management with strategy-setting, such as an enterprise risk management (ERM) approach, helps an organization manage its risks to protect and enhance enterprise value in three ways.
But until boards start to tackle these issues, risk management is likely to be seen by senior management as a constraint on their business, rather than the source of competitiveness it should be.
As an organization, it is faced with a series of risk management issues regarding both clientele and staff.
Building an enterprisewide risk management system requires investment.
With more than 17 years of relevant experience, Michelle has supported numerous risk management engagements and is a frequent speaker and writer on the subject of enterprise risk and regulatory compliance.
The more complex a business, she says, the more likely a company will have an enterprise-wide risk management program with a more powerful CRO who reports to the CEO and audit committee (or to the risk committee that is typically a subset of the audit committee).
Successful risk management plans require support and commitment from management.
The purpose of this small group (fewer than 100 members) is "to foster research into topics in risk theory and risk management.
Accordingly, we look forward to the recommendations of the Counterparty Risk Management Policy Group (CRMPG) regarding private-sector initiatives for enhancing the credit-risk-management practices of creditors and their leveraged counterparties.

Full browser ?