Risk Management

The goal of Risk Management is to reduce risks and consequently making sure that organizational goals are realized. It is important to know that Risk Management is not the responsibility of one person within an organization, but it is the responsibility of the whole organization. This is because of the fact that Risk Management entails much more than controlling and managing financial risks. Risk Management can have an effect on strategy, product development, compliance, rules and regulations.

Once risks are defined, the next question is: ‘How do I manage risks?’. Many organizations have numerous instruments available to measure risks and the manage them. The challenge for each manager is to use these instruments as effective as possible to guarantee the continuity of the organization.