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What is Risk Management?

If we talk about an exact definition then the process of predicting and assessment of financial risks along with the process of finding various methods to avoid that risk or a method to decrease the losses that will happen due to it.   

Every business organization faces various kinds of risk and this subject deals with the techniques of finding those risks and evaluating the type of damage it will do to the resources. Once the risk is identified various prevention methods are implemented to decrease its overall impact. This is an important part of strategic management. A risk can be due to changes in the economy, legal risk, credit risk, failure of sales strategy, competitor risk, etc. Also, risk can be broadly categorized into four types which are the strategic risk, reputational risk, compliance risk, financial risk, and operational risk.

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Writing an assignment on any subject in the field of management is not an easy task because most of the subjects carry a deeper meaning that students couldn't understand without getting proper guidance from their faculties or professors. However, Tutorsglobe will take care of all your academic issues from now on as we are going to assign a specific assignment writing team to provide you with the Risk Management Assignment Help service.

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Steps of Risk Management

  • Identify and find the type of risk
  • Perform an assessment and analyze the nature of risk
  • Find the consequences of risk
  • Find solutions to prevent the risk or decrease its impact on the resources of the business
  • Implement the solution, monitor and take feedback of risk prevention strategy

Methods & Techniques for Risk Control

  • Avoidance: The simplest one is to take preventative measures to avoid a risk
  • Loss Prevention & Reduction: If the risk cannot be prevented then decrease the loss that can be caused due to it
  • Separation: If it is a legal risk then try to distance away the organization from the damage caused by the risk
  • Duplication: This category is for loss of data risk and in this case taking backups is a good idea for risk prevention
  • Diversification: Don't put all your eggs in one basket means invest in diverse investment vehicles to avoid the risk

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Some related and important topics of Risk Management which are covered under our online assignment writing services  

  • Work breakdown structure
  • Project management software
  • Entrepreneurial risk management
  • Communications plan
  • Acquiring human and material resources
  • Project management plan
  • Project portfolio management
  • Project closure and project debrief
  • Change control plan
  • International standards
  • Work breakdown structure
  • Blending Agile and Waterfall
  • Risk management plan
  • Interpersonal Skills
  • Enterprise risk management
  • Virtual project management
  • PERT charts
  • Resource Management Takes a Seat at the Table
  • Earned value management
  • Project Life Cycles
  • Project cycle optimization (PCO)
  • Digital Project Management Comes of Age
  • Claim based risk management
  • Integration Management
  • Gantt charts
  • The Rise of Peer Support
  • Liability risk management
  • Scope Management
  • Event chain diagram
  • Phased approach
  • Cyber risk management
  • Procurement Management
  • Risk breakdown structure
  • Lean project management
  • Financial risk management
  • Schedule Management
  • Responsibility assignment (RACI) matrix
  • Cost Management
  • Property Risk management
  • Critical chain project management
  • Governance model
  • Iterative and incremental project management
  • Human resource risk management
  • Resource Management
  • Forecasting future trends in the project
  • Project production management
  • Financial Risk Management
  • Communications Management
  • Project status report
  • Product-based planning
  • Educational risk management
  • Process-based management
  • Analysis of objectives and events
  • Production risk management
  • Benefits realization management
  • Controlling project execution
  • Quality Management
  • Regulation and safety management


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