To start up with my first blog, I got to really put more thought on my mind. At last I came up with a topic " Risk Management ".
There is a Web based definition of Risk Management which goes this way: Risk management is a structured approach to managing uncertainty related to a threat, a sequence of human activities including: risk assessment, strategies development to manage it, and mitigation of risk using managerial resources. I would rather define it as managing the crisis situation or lending a helping hand in times of extreme failures or system crashes by using the available resouces at hand. For proper risk management we probably require 6 utilities.
1) Identification of risk
2) Planning
3) Mapping it according to the customers interestslders
4) Defining a framework an setting agenda
5) Developing an analysis
6) Mitigation .
Thus, Risk Management is one of the extreme factors in the companies progress.
http://en.wikipedia.org/wiki/Risk_management
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7 comments:
To a new entrepreneur, is risk management one of the most important problems he or she should consider in a start-up?
i really do feel that risk involved in anything is far more important thing to take care of because the fruit of it has greater heights of satisfaction and reward.
As risk management is at the time of crisis,Y don't we apply this from the starting so that nothing gets effected and there will be no burden at the last because occurence of crisis decreases.
I think we could do the risk evaluation as a investor when we going to decide which idea is more hopeful.
There was always a rule. "more risks, more profits". But i think it is not general in all the Scenarios.
Thanks all for your feedback.
hope we end with a minimum risk project !!
I appreciate Ning ding that you hav come up with a role in the project...!!
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