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Want to know about Risk management

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  #1  
Old 18-11-2010
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Join Date: Mar 2010
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Want to know about Risk management
  

I am a first year MBA student. In MBA lectures i heard Risk management word number of time. What is a Risk management? What is a use of risk management in a different sectors? Why we need risk management? Is there is a other option we have to analysis the problem? I also want to know about risk management colleges in India. If anyone have an idea about it then please reply me as soon as possible.

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  #2  
Old 18-11-2010
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Join Date: Jul 2008
Posts: 288
Re: Want to know about Risk management

Risk Management is basically a development strategy. It gives mankind an achievement plan to reduce the hazards arising from unexpected situation. Risk recognition, its evaluation, advance progress, and risk improvement reduce within its purview. There is a different types of risk management are as follows:-

Types of Risk Management:-

* Financial Risk Management
* Operational Risk Management
* Project Risk Management
* Risk Management and Insurance
* Credit Risk Management
* Market Risk Management
* Quantitative Risk Management
* Technology Risk Management
* Integrated Risk Management
* Nonprofit Risk Management
* Bank Risk Management
* Commodity Risk Management
* Currency Risk Management
* Software Risk Management
* Enterprise Risk Management
* Implementation of ERM Program
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  #3  
Old 18-11-2010
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Join Date: Jun 2008
Posts: 331
Re: Want to know about Risk management

Risk management covers the whole project life cycle. It will involve people, reasons for the development, a manufactured goods, a approach, resources and timing. Risk management requires the management of uncertainty. Developing correct strategy for identified and possible risks will decrease disaster management.

6 key questions require an answer:

* Who?
* Why?
* What?
* How?
* Resource?
* When?
__________________
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  #4  
Old 18-11-2010
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Join Date: Jun 2008
Posts: 370
Re: Want to know about Risk management

Risk management if unnoticed be able to harmfully have an effect on costs. Control of costs, schedules and revenue is element of the project and risk management process. All risks inside a project will impact on one of cost, schedule timing or revenue. Risk management is component of the project management process. It depends on your analysis of the level of risk against the collision of that risk on the project.
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  #5  
Old 18-11-2010
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Join Date: Apr 2008
Posts: 372
Re: Want to know about Risk management

There are four stages to risk management planning. They are: ?

* Risk Identification
* Risks Quantification
* Risk Response
* Risk Monitoring and Control

1.Risk Identification:-
we recognize the risks. The greatest approach is a workshop with business and IT people to carry out the recognition. Use a combination of brainstorming and reviewing of typical risk lists.

2.Risk Quantification:-
Risk require to be quantified in two dimensions. The impact of the risk needs to be assessed. The possibility of the risk occurring needs to be assessed.

3.Risk Response:-
There are four things you can do regarding a risk. The strategies are as follows:-
  • Avoid the risk.
  • Transfer the risk.
  • Mitigate the risk.
  • Accept the risk.
4.Risk Control:-
The last step is to repeatedly check risks to recognize any change in the position, or if they turn into an matter. It is top to hold normal risk reviews to recognize events terrific, risk chance and impact, take away risks that have approved, and recognize new risks.
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  #6  
Old 19-11-2010
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Join Date: May 2008
Posts: 620
Re: Want to know about Risk management

Risk management degrees courses have been introduced in a lot of institutes for professional and dedicated training in this subject. The important risk management colleges are as follows:-
• Institute of Insurance and Risk Management, 1149, Road 57, Jubilee Hills, Hyderabad – 500033, Andhra Pradesh; Tel.: 040-23556470; Website: www.iirmworld.org.in

Course: International Post Graduate Diploma in risk Management
Duration: One year
• The Institute of Chartered Accountants in India, Post Box 7100, Indraprastha Marg, New Delhi – 110002; Tel.: 011-39893989; Website: http://icai.org/post.html

Course: Certificate course in Enterprise Risk Management
• Indian Institute of Banking and Finance, The Arcade,2nd Floor, World Trade Center, Cuffe Parade, Mumbai – 400005; Tel.: 022-22187003; Website: http://www.iibf.org.in/
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