Implementing Risk Management Program


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Please note:

This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

Case Details:

Price:
Case Code : PROM002 For delivery in electronic format: Rs. 200;
For delivery through courier (within India): Rs. 200 + Rs. 25 for Shipping & Handling Charges

Themes

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Case Length : 04 Pages
Period : -
Pub Date : 2004
Teaching Note : Available
Organization : -
Industry : -
Countries : India

Abstract:

The element of risk is inherent in every activity of a project. Projects are exposed to various types of risks like technical risks, economic risks, social risks, production risks, financial risks and human risks. This case describes how a company developed and implemented a risk management system to help it deal with the uncertainties in the business environment.

The case explains the various stages involved in developing a risk management system: identifying the areas to be monitored by the risk management system; setting priorities for managing risks and developing appropriate risk responses; implementing the risk response; and monitoring the effectiveness of the risk management program

Issues:

» The importance of scanning the business environment to identify the sources of risk for a project organization

» The need to develop a risk response strategy for the successful implementation of a project

Keywords:

Case, risk, inherent, project, types of risks, technical risks, economic risks, social risks, production risks, financial risks, human risks, risk management system, uncertainties, business environment, stages, managing risks

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