Business Proposal Presentation

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Instituto Politécnico Nacional Escuela Superior De Comercio Y Administración Unidad Santo Tomas Risk Management Contador publico Assignment 3: What is Risk Management and Why is it important? Team: Contreras Mata Mariana 100%Hernández Osorio Zaida Elvira 100%Martínez Hernández Michelle Estefany 100%Páez Reynoso Estephany 100%Torres Pérez Víctor Gustavo 100% Teacher’s Name: María Belén Vázquez Conde Group: 5CM2 Date: September 09th, 2024

What is risk management?

Is the process of identifying, assessing and controlling financial, legal, strategic and security risks to an organization’s capital and earnings.

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Risk Process Management

Risk identification

The initial step in the risk management process is to identify the risks that the business is exposed to in its operating environment.There are many different types of risks:

Risk analysis and assessment

Once a risk has been identified it needs to be analyzed. The scope of the risk must be determined. It is also important to understand the link between the risk and different factors within the organization.

Risk mitigation

Risk monitoring

Risk mitigation and monitoring.

Risk management is important because it tells businesses about the threats in their operating environment and allows them to preemptively mitigate risks.

Why Is Important Risk Management?

It’s critical to have a plan for determining which risks are worth planning for, and which aren´t

Importance of risk management really comes down to budget and resource efficiency. Some examples of this are:

Consequences of poor risk management

There are many ramifications that can come with poor risk management.

• They primarily come down to unhappy customers and users, but range from slow user adoption and missed opportunities to reputational damage and complete project failure.

Business ventures encounter many risks that can affect their survival and growth. As a result, it is important to understand the basic principles of risk management and how they can be used to help mitigate the effects of risks on business entities.

Conclusion

• Risk identification
• Risk analysis and assessment
• Risk mitigation and monitoring.

Three important steps of the risk management process: