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Understanding Risk Management In Small 7 Steps

Author

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  • Valentin Petru MÃZÃREANU

    (The Faculty of Economics and Business Administration “Alexandru Ioan Cuza” University of Iasi)

Abstract

Risk management means making steps in order to identify those risks with a highly probability of causing problems to a project, to analyze the probability of loss and the magnitude of loss for each risk and developing composed risks, to classify the risk points identified according to the composed risks they belong to. Risk management problem is quite complex. When such a process is triggered, it must consider several issues in parallel. In this article we detect seven rules (principles) that a risk management department should take into account when deciding to implement a enterprise risk management

Suggested Citation

  • Valentin Petru MÃZÃREANU, 2011. "Understanding Risk Management In Small 7 Steps," Revista Tinerilor Economisti (The Young Economists Journal), University of Craiova, Faculty of Economics and Business Administration, vol. 1(16), pages 75-80, April.
    • Handle: RePEc:aio:rteyej:v:1:y:2011:i:16:p:75-80
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    More about this item

    Keywords

    risk management; model; approach; principle;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration

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