A3_JainVazquezGabriela_team8_5CM4

Student name: Jain Vazquez GabrielaTeacher: Vazquez Conde Maria BelénDate:08/09/2024

Risk Management

Assignment 3: What is Risk Management and Why is it important?

Escuela Superior de Comercio y Administración Unidad Santo Tomás

to succeed in doing or dealing with something, especially something difficult

What is risk management?

STEPS

Establish context

Identify and define

Analyze risks

Assess and evaluate Risks

Mitigate risks

STEPS

Monitor risks

Communicate

Strategies

Risk avoidance Risk reductionRisk sharingRisk retaining

benefits

Increased awareness of risk across the organization.

More confidence in organizational objectives and goals because risk is factored into strategy.

Improved operational efficiency through more consistent application of risk processes and controls.

A competitive differentiator in the marketplace.

WHY IS IMPORTANT?

Because it ensures the continuity and success of an organization, as it helps to protect assets, comply with regulations, and improve strategic decision-making.

References

Bibliography

• https://www.investopedia.com/terms/r/riskmanagement.asp

• https://www.youtube.com/watch?time_continue=83&v=-Yd3gXb35kU&embeds_referring_euri=https%3A%2F%2Fclassroom.google.com%2F&source_ve_path=Mjg2N jMsMjg2NjY

• https://www.techtarget.com/searchsecurity/definition/What-is-risk-management-and-why-is-it-important#:~:text=Risk%20management%20is%20the%20process,errors%2C%20accidents%20and%20natural%20disasters.

• https://www.techtarget.com/searchsecurity/definition/What-is-risk-management-and-why-is-it-important#:~:text=Risk%20management%20is%20the%20process,errors%2C%20accidents%20and%20natural%20disasters.

IdentifyEvaluate Prioritize risks AssessingControlling

RISK MANAGEMENT

• to minimize, control and monitor their impact

INCLUDES

• Strategic management errors
• Legal liabilities
• Human error
• natural disasters

POTENCIAL

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POTENCIAL

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