Risk Aspects in Organization

Vidyut Chandra Patange -CEO
Corporate Innovative Strategy Certified 
Srh Management Consultants and Trainers 

RISK is the part and essence of daily life and cannot be ignored,but risk cannot be an issue at all if within operating control.. 

Risk Analysis is a process that helps you identify and manage potential problems that could undermine key business initiatives or projects. To carry out a Risk Analysis, you must first identify the possible threats that you face, and then estimate the likelihood that these threats will materialize.

Five Steps of the Risk Management Process

  1. Step 1: Identify the Risk. The first step is to identify the risks that the business is exposed to in its operating environment. ...
  2. Step 2: Analyze the risk. ...
  3. Step 3: Evaluate or Rank the Risk. ...
  4. Step 4: Treat the Risk. ...
  5. Step 5: Monitor and Review the risk.

For efficient risk management , you need to understand it's cycle.. 

  • Planning
  • Organizing
  • Directing and
  • Controlling
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Also some organization do SWOT analysis to check the core risk area 

SWOT (strengths, weaknesses, opportunities, and threats) analysis is a framework used to evaluate a company's competitive position and to develop strategic planning. SWOT analysis assesses internal and external factors, as well as current and future potential

It refers to the organization’s resources, divided into human resources and material resources, which should serve the purpose of minimizing risks, or on the other hand, seek some way to harness them for the benefit of the company.

Major components of Risks are

     Risk Components are:
  • The event that could occur – the risk,
  • The probability that the event will occur – the likelihood,
  • The impact or consequence of the event if it occurs – the penalty (the price you pay).

Application of Risk Management is based on 4 Principle

  • Accept risk when benefits outweigh the cost. 
  • Accept no unnecessary risk. 
  • Anticipate and manage risk by planning. 
  • Make risk decisions in the right time at the right level.
An example of risk management is when a bank employee reviews a potential loan to determine what the chances are that the buyer won't pay it back in order to decide how to proceed with granting the loan and how much to charge in interest.





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