risk management


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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 ?
Since risks can affect any or all areas of a program, one accepted idea is to have the risk management control at the highest level of the organization practicable.
Risk management enables organizations to find the level of risk they can tolerate safely while maintaining successful business operations.
This is the essence of what ERM contributes to the organization--the elevation of risk management to a strategic level by assessing all sources of value, not just physical and financial ones.
Through mistakes and triumphs, the Center has learned the significance of cultural diversity and risk management.
Boards may not have the right talent to ask probing risk management questions.
Control Solutions is a leading independent internal audit, compliance, risk management and technology firm that provides a wide range of advisory services, comprehensive solutions and innovative products globally.
The first line of defense in risk management is screening staff in order to hire the most qualified, capable people for the job This process starts with a comprehensive application.
Oregon's Department of Administrative Services Risk Management Division's home page offers a policy manual and back issues of RisKey Notes.
Moreover, the March 1999 update to the Federal Reserve's Trading and Capital Markets Activities Manual will incorporate the specific sound practices identified in the Basle documents in a special hedge fund subsection of its existing Counterparty Credit Risk Management section.
Sunrisk has implemented risk management consulting and implementation projects for 8 out of 15 top banks in China since it started conducting business in 2004, covering the areas of methodology, modeling, testing/verification, statistical analysis, and policy and processes in the ALM (Asset Liability Management) and market risk segments in the risk management area.

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