Open AccessRisk Management: Classification and Management Methods
Author(s) -
Yana Aleksandrovna Vasilyeva
Publication year - 2020
Publication title -
obŝestvo: politika, èkonomika, pravo
Language(s) - English
Resource type - Journals
eISSN - 2223-6392
pISSN - 2071-9701
DOI - 10.24158/pep.2020.12.17
Subject(s) - context (archaeology) , risk management , risk analysis (engineering) , deci , computer science , risk assessment , risk management information systems , process (computing) , business , engineering , management information systems , computer security , information system , geography , autonomy , archaeology , finance , electrical engineering , political science , law , operating system
The paper contains research of existing risk classifi-cations. The new classification based on this re-search is developed. This classification lets to de-velop effective risk management system in an organ-ization. Suggested classification assumes the selec-tion of three risk types (global, context, system) which demand different management approaches. The manageability of global risks is low, it implies a situational approach to management and an influ-ence of the subjective characteristics of the deci-sion-maker. Context risks require more management resources; therefore, various methods of identifica-tion, assessment and processing are proposed for this kind of risk. However, the uncertainty that gen-erates context risks is high, in contrast to system risks. System risks primarily affect the quality of an organization's products, and therefore must be fully manageable. Most statistical quality control meth-ods are suitable for system risk management. Threats and opportunities at the process level must have a quick reaction from management.