Risk management - Team 3

Delivery Date: 08/09/2024

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Vazquez Conde Maria Belen

Risk Management

INSTITUTO POLITÉCNICO NACIONAL ESCUELA SUPERIOR DE COMERCIO Y ADMINISTRACIÓN UNIDAD SANTO TOMÁS

Public AccountantGroup: 5CM4Team: 3Members: Cardiel Olguin Jorge EduardoLopez Tovar Miriam AreliMendez Rojas Alix MichelleSanchez Valencia Pedro Ivan

What is the risk management?

It is a process that identifies and evaluates the risks that may affect an organization, in order to reduce them and avoid losses.Risk management is based on the combination of financial, human, material and technical resources of the company. Risks or threats include strategic management errors, legal liabilities, human errors, and natural disasters.

Why is important?

It is important because it helps companies achieve their objectives and goals.The plans also include processes to identify and control threats to digital assets, such as corporate data, personally identifiable information, and intellectual property.

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The risk management process

Analyze risks, including determining the likelihood of their occurrence and their consequences.

Analyze the risks

Identify and define potential risks.

Identify risks

Establish the context in which the rest of the process will take place.

Set the context

The risk management process

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Monitor risks by tracking gothic risks and the overall plan.

Monitor risks

Mitigate risks by developing specific risk controls for the highest ranked risks.

Address the risks

Evaluate risks against the company's risk appetite.

Assess the risks

The risk management process

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Communicate and consult with shareholders.

Communicate risks

Strategies

A strategy is a procedure for making decisions in a given circumstance.In risk management, risk is looked at as a strategic enabler versus the cost of doing business

Strategies

Risk management is an organizational strategy, which includes: • Risk avoidance • Risk reduction • Risk sharing • Risk retaining

Strategies

The strategies address the following questions. • What can go wrong? • How will it affect the organization? • What can be done? • How will we pay for it? These questions are effective in preparing for uncertainty and meeting goals

Risk management strategies include risk avoidance, risk reduction, risk sharing, and risk retention. It is impossible to protect against all threats, proper risk management allows teams to minimize exposure and potential additional costs. The process carries its own risks, requiring large amounts of data, experience, time and money.

Conclusion

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