Nature and sources of risks

Business development is inherently risky. Risks can be classified by its source and nature. Sources of risk are organized into categories such as technical risk, management risk, and external risk. Within each category, specific sources of risk are identified in order to apply risk reduction techniques.

Technical risks include complexity & interface, design, performance and reliability and quality.

Management risks mainly consist of estimating, controlling, communication and reputation (brand).

External risks contain risks related to competition, legislation and customers.

Potential risks for a business:

1. Do not have opportunity to create single database.

2. Afraid of innovations

3. Risk of long-term transition to a new system

8.2 Financial impacts of risk

Practical importance of the problem of developing acquired universal tools for evaluation and development of enterprise risk management program, which could use any manager or specialist.

To assess the risk of the enterprise has developed a methodology to determine the most significant risk factors. It is based on the use of expert risk assessment techniques. Source of information was developed for the expert survey questionnaire. Each expert, filling the questionnaire , assesses the importance of factors independently. Ratings are reduced to a generalized characterization.

Identification of factors raising or lowering separate risks

For the risks which point of Wi*Vi=2,9 > 5 counteraction measures are provided.

Strategies for managing risks

- we must find the best it specialist and enough money;

- we should create the protection system to avoid errors with system;

- we have to allocate enough money to preparing high quality specialists;

- we will contract with suppliers of raw materials about discounts and fixed costs.

Nature and sources of risks

Business development is inherently risky. Risks can be classified by its source and nature. Sources of risk are organized into categories such as technical risk, management risk, and external risk. Within each category, specific sources of risk are identified in order to apply risk reduction techniques.

Technical risks include complexity & interface, design, performance and reliability and quality.

Management risks mainly consist of estimating, controlling, communication and reputation (brand).

External risks contain risks related to competition, legislation and customers.

Potential risks for a business:

4. Do not have opportunity to create single database.

5. Afraid of innovations

6. Risk of long-term transition to a new system

Date: 2016-01-14; view: 1659