Introduction to Risk Management - ENGINEERING MANAGEMENT

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Introduction to Risk Management PDF Aims of this presentation: To explain why it is relevant To explain its components the “Risk ...

Introduction to Risk Management

Introduction to Risk Management  pdf
Introduction to Risk Management PDF

Aims of this presentation:

  • To explain why it is relevant
  • To explain its components the “Risk Cycle” 
  • Guidance on Preparing a “Risk Register” 
  • Guidance on Risk management techniques 
  • Guidance on Reporting on risks

What is Risk Management?

It is a process to:
  • Identify all relevant risks 
  • Assess/rank those risks 
  • Address the risks in order of priority 
  • Monitor risks & report on their management
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Risk Management – why do we need it?

  • Promotes good management 
  • Maybe a legal requirement depending upon industry or sector 
  • Resources available are limited – therefore a focused response to Risk Management is needed
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