What is risk mitigation and how it is monitored, Financial Management

Assignment Help:

Q. What is Risk mitigation and how it is monitored?

1. When managing risks, there are several risk strategy options to be considered. Risk may be avoided entirely, transferred to another party, or exposure to the risk can be reduced.

2. Acceptance of the risk should be considered only as a last resort, and should only be applied for items that cannot be addressed by any other strategy.

3. The mitigation steps must be appropriate, cost effective and achievable. The development of these steps should encourage problem solving and innovative solutions, with the objective of avoiding the risk or reducing the impact as much as possible.

4. When discussing action items, it is important to remember that interpretation of each risk will differ from person to person, with the recommended course of action varying according to the person or organizations perception project management, objectives, environment, experience and risk tolerance level.

5. The risk assessment sheet (RAS) or risk entry form, is the appropriate place to record all known information about the risk.


Related Discussions:- What is risk mitigation and how it is monitored

Defects in the companys system, The case of McKesson & Robbins scandal (193...

The case of McKesson & Robbins scandal (1938) was happen due to internal fraud. This case is also happen by the faulty work of board of directors. The organization of McKesson & Ro

Evaluation of money-market hedge, Evaluation of money-market hedge Expe...

Evaluation of money-market hedge Expected receipt after 3 months = $300000 Dollar interest rate over three months = 5.4/ 4 = 1.35% Dollars to borrow now to have $300000 l

Explain risk aversion, What is risk aversion? If common stockholders are ri...

What is risk aversion? If common stockholders are risk averse, how do you explain the fact that they often invest in very risky companies? Risk aversion is the trend to avoid add

Partial correlation coefficients , In multiple correlation equations we are...

In multiple correlation equations we are often interested in finding out how much of the variation in the dependent variable is explained by one independent variable if all the oth

Why investment decision depend on financing decision, Why investment decisi...

Why investment decision depend on financing decision All these decisions interact, investment decision cannot be taken without taking the financing decision, working capital de

Define the services that international banks provide, Briefly discuss some ...

Briefly discuss some of the services that international banks provide their customers and the market place. Answer:  International banks can be categorized by the types of servic

Concept of yield measures, A fixed income security investor can expect to r...

A fixed income security investor can expect to receive a rupee returns from the following sources: (a) Interest payment, (b) Capital gain or loss at maturity or when so

How debt securities is different from term loan, How Debt securities is dif...

How Debt securities is different from term loan Debt securities are different from term loans provided by financial institutions and banks to the company. Term loans are long t

Profit and loss, how is financial management relevant to profit and loss?

how is financial management relevant to profit and loss?

Preparing financial statements using accrual basis, Question: On a pilo...

Question: On a pilot basis a Government Department, PPO, is preparing its financial statements using accrual basis. The following information is provided: The following bala

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd