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1、结课大作业 专业外语(1) 学生姓名学生学号专业班级经济与管理学院2012年11月30日A brief explain about the importance of risk identification in risk managementAbstract: Risk identification is investigated as a basic stage in risk management. Correct risk identification ensures risk management effectiveness. Due to the complexity and po
2、lytrompise of risk, risk identification is a very complicated and arduous work. Risk is objective, the most difficult work for the contractor is to understand and find out the possible sources of losses when the contractor research into projects and produce tactic to risks. A classification of risk
3、sources: physical social, political, operational, economic, legal, and cognitive environment is proposed. It allows covering all type of risk facing the organization. A grouping of the resources exposed to risk such as human and financial resources is introduced. It is based on a practical considera
4、tion of the risk situation in the organization. As the first stage in the risk management, risk identification has proved its leading role in the risk management.Keyword: risk, risk identification, risk management, decision1. Literature review1.1 The importance in the risk management When invested a
5、 project, a lot of money, material and human power and precious resources will be cost, and once it was built that were difficult to change. So before making an investment, risk identification became most important.1.2 Problem description Risk identification is the first stage of risk management. It
6、 develops the basis for the next steps: analysis and control of risk management. If risk managers do not succeed in identifying all possible losses or gains that challenge the organization, then these nonidentified risks will become non-manageable. The organization will not account for them and will
7、 not take any actions related to them and the consequences could be very unexpected.Risk identification has to be considered in a broader way .The attention of managers should not be concentrated only on what can be insured or mitigated. Risk identification should start with the basic questions:l Ho
8、w can the organizational resources be threatened?l What adverse effect can prevent the organizational from achieving its goals?l What favorable possibility can be revealed?Starting the identification process at this beginning point can from a good basis for its identification and implementation and
9、does not put up any barriers about the types of risk that will be identified or about the resources that are influenced. Of course, it is very easy to present the idea about complex risk identification, than to realize this in practice. This idea sounds like a fairy tale where someone can see everyt
10、hing and everywhere. If the risk managers can see what is going on at all the organizations levels-administration, R&D, technological, etc.-they will know where a peril will occur ,how an action in one level can develop a hazard in another, the conflicts that will be revealed ,etc. It will be possib
11、le to observe not only the internal but also the external environment and to observe how the organizations activities can threaten the environment and, on the other hand, it would be possible to see who may threaten the organization and to what extent. Having this information about the internal and
12、outside environment of the organization the risk managers can see all virtual risks that challenge the organization, not only those that are known at the moment, and can undertake the appropriate actions. Unfortunately it is not possible for a manager to collect such complete information. Also, it i
13、s possible to perform a direct analysis of every risk case, but its practical application is difficult again due to the lack of information and lack of time. In this way the development of risk identification can be based aiming at developing a generalized approach for organizational activity invest
14、igation, considering all possible risks and investigating all resources exposed to risk.Risk identification is a process that reveals and determines the possible organizational risks as well as conditions, arising risks. By risk identification the organization is able to study activities and places
15、where its resources are exposed to risks. Risk identification can be described by the following basic elements:l Sources of risks;l Hazard factors;l Perils;l Exposures to risk;Sources of risk are elements of the organizational environment that can bring some positive or negatives outcomes. Hazard is
16、 a condition or circumstance that increases the chance of losses or gain and their severity. Peril is something that is close to the risk and it has negative, non-profitable results. Peril can happen at any time and cause unknown, unpredictable loses.Resources exposed to risk are objects facing possible losses or gains. They will be affected if the risk event occurs.Definitio
