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AD610 | Lecture Notes - Week 5

by: Melissa Wadman

AD610 | Lecture Notes - Week 5 MET AD 641

Melissa Wadman
GPA 3.78

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About this Document

Risk assessment procedure guidelines
Enterprise Risk Management
Class Notes
25 ?




Popular in Enterprise Risk Management

Popular in Administrative Sciences

This 2 page Class Notes was uploaded by Melissa Wadman on Sunday October 9, 2016. The Class Notes belongs to MET AD 641 at Boston University taught by Banasiewicz in Fall 2016. Since its upload, it has received 6 views. For similar materials see Enterprise Risk Management in Administrative Sciences at Boston University.

Similar to MET AD 641 at BU

Popular in Administrative Sciences


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Date Created: 10/09/16
Enterprise Risk Management - MET AD 610 Week 5 Lecture Notes ➔ Keywords: ◆ Total risk exposure​ - present value of upside risk + present value of downside risk ★ to manage risk is to exploit ​ nside risks as we​ pside threats and opportunities in a manner that makes positive contribution to the firm’s competitiveness ○ Good risk taker: A firm whose value increases as a result of its risk management ○ Poor risk taker: A firm whose value decreases as a result of its risk management ★ RISK MANAGEMENT PROCESS ○ ERM Concept & Framework ■ High level, conceptual road map ■ Used to shape the ERM development process Organizational Context Risk Assessment Risk Identification Risk Analysis Risk Evaluation Organizational Context ○ Risk Management System (RMS) ■ Organizational implementation of the ERM concept ■ Spells out resource requirements, responsibilities and organizational processes ● Act ● Plan ● Do ● Check ○ Informed Decisioning -- Risk Assessment ■ Ways and means delineation ■ Answers the basic question of ‘how a task is to be performed’ 1. Identification 2. Estimation 3. Mapping 4. Response 5. Capitalization ★ Risk Management System: Stages & Critical Success Factors ○ Readiness ■ Strategy ■ Team spirit ■ Responsibility ■ Business type ○ Implementation Enterprise Risk Management - MET AD 610 Week 5 Lecture Notes ■ Top management ■ Human resources ■ Business type ○ Administration ■ Human resources ■ Organizational structure - how is this new activity going to fit into the organizational structure ■ Top management ■ Organizational culture


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