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TEACHER´S NAME: VÁZQUEZ CONDE MARÍA BELÉNSUBJECT: RISK MANAGEMENT GROUP: 5CM2 DATE: 09/08/2024

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

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WHAT IS RISK MANAGEMENT AND WHY IS IMPORTANT

TEAM 4:

• Hernández Montelongo Eder Alan
• Mercado Soriano Britany Jamileth
• Reyes Real Vania Karen
• Romero Palacios Angel Alejandro
• Soto Sotelo Sofia Paola Miroslava
• Vargas Méndez Andrea Damaris

WHAT IS MANAGEMENT RISK?

Risk management is the process of identifying, assessing, and prioritizing potential risks, followed by implementing strategies.

AND WHY IS IMPORTANT?

To minimize or control the impact of those risks on an organization or project.

Strategic management errors

Legal liabilities

Human error

Natural disasters

Some risks can be

The plans also include:

Processes to identify and control threats to digital assets.

Corporate data

Personally identifiable information

Intellectual property

MANAGEMENT PLAN

1. Establish context in wich the rest of the process will take place.
2. Identify and define potencial risks.
3. Analyze risks.
4. Assess and evaluate risks.
5. Mitigate risks.
6. Monitor risks.
7. Communicate and consult with shareholders.

All the management plans follow the same steps

STRATEGIES INCLUDE

• RISK AVOIDANCE
• RISK REDUCTION
• RISK SHARING
• RISK RETAINING

All strategies should answer questions like

• What can go wrong?
• How will it affect the organization?
• What can be done?
• How will we pay for it?

Proper risk management enables teams to minimize exposure and potential extra costs.

Considerations

It´s impossible to protect against all the threats but a proper risk management enables the companies to minimize them and also every possible extra costs.

Considerations

The process comes with its own risks. It requires large amounts of data, expertise, time and money. It might also give organizations a false sense of security.

Thank you for your attention