Key elements of Risk Management

  1. the higher the risk level in this market segment, the higher is the rate of return;
  2. due to the presence of risks, you can take your place in the market;
  3. risks are allies of one who knows how to manage them.
  • Risk assessment;
  • Defining a risk response strategy;
  • Regular change tracking.

TYPES OF RISKS

Each company can be exposed to the following risks:

  • risk of uncontrolled cost increases;
  • risk of inability to sort out debts (credit risk);
  • organizational risks (risks associated with mistakes in the management of the company and its employees; problems of the internal control system, poorly developed work rules, risks associated with the internal organization of the company);
  • technical and production risks (risks of fires, accidents due to improper organization of the production process; possible losses due to failures and breakdowns of equipment, etc.);
  • legal risks (may arise due to inconsistency of internal documents, concluded company agreements with applicable laws and requirements).

THERE ARE SEVERAL KEY STAGES IN RISK MANAGEMENT:

You can find them in the next document:

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Developing secure and compliant software for Fintech, Healthcare and Real Estate. For tech businesses eager to be #1 in their niche. www.upplabs.com

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UppLabs

UppLabs

Developing secure and compliant software for Fintech, Healthcare and Real Estate. For tech businesses eager to be #1 in their niche. www.upplabs.com

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