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 ?
Compliance and risk management is estimated to be the most lucrative application of the treasury and risk management application market.
She takes over leadership of the AXIS Risk Management Academy, which launched in Spring 2018.
These guidelines are based on best international practices on the subject and are aimed at enhancing the proactive environment on various aspects of risk management for AMCs and are flexible in the sense that AMCs can adapt them in line with the size and complexity of its business.
Criterion 8: Developed technical expertise in any or all of the broad categories included within risk management, leading to a better managerial grasp of the operational aspects of the job.
The second paper presented by Eng Mohammed Saif al Wardi titled 'Best risk management practices applied in OETC' covered the four processes used in risk management, namely, definition, analysis, evaluation and resolution.
* identification of persons responsible for the development, implementation and the maintenance of the risk management structure,
ERMA is established as a global learning center for professionals in Enterprise Risk Management. ERMA provides a comprehensive set of Enterprise Risk Management courses and certifications, and is facilitating collaboration efforts of ERM professionals around the world.
There is room for improvement in how the key stakeholders deal with the concept of risk management. Perhaps it would help to define risk management as having the right conversations regarding risk, with the right people, at the right time, about the right risks, and working together to make the right decisions.
94 percent of company boards reported that they spend more time on risk management oversight than they did five years ago, and 98 percent of company boards regularly review risk management reports.
Session 2: Practical risk management approach for microbiological hazards in the supply chain.
This guide contains baseline information and explanations for a well structured risk management program.
Thirty-four academics and practitioners in sport law and risk management contribute 39 chapters designed to assist sport administrators overseeing sports programs at all level--from youth sport to school and college programs, professional teams and leagues--in developing risk management plans and procedures to make the sport industry safer.

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