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    A primary objective of risk management is to identify and to manage (take preventive steps) to handle the uncertainties that attend a business enterprise or tha t are personal to an individual. There are several primary ways to do it: 1. Recognize that there are a panoply of risks that attend any action and be pre pared, to the extent possible. 2. Minimize the chances of the adverse event occurring, by implementing and enfo rcing safety measures. 3. Minimize

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    A primary objective of risk management is to identify and to manage (take preventive steps) to handle the uncertainties that attend a business enterprise or tha t are personal to an individual. There are several primary ways to do it: 1. Recognize that there are a panoply of risks that attend any action and be pre pared, to the extent possible. 2. Minimize the chances of the adverse event occurring, by implementing and enfo rcing safety measures. 3. Minimize

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    2 views1 page

    Untitled

    Uploaded by

    natuasfaw
    A primary objective of risk management is to identify and to manage (take preventive steps) to handle the uncertainties that attend a business enterprise or tha t are personal to an individual. There are several primary ways to do it: 1. Recognize that there are a panoply of risks that attend any action and be pre pared, to the extent possible. 2. Minimize the chances of the adverse event occurring, by implementing and enfo rcing safety measures. 3. Minimize

    Copyright:

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    2 objective of the risk Manager A primary objective of risk management is to identify and to manage (take preven tive steps)

    to handle the uncertainties that attend a business enterprise or tha t are personal to an individual. Regardless of the entity (business or person) which/whose risk is being managed, there are several primary ways to do it: 1. Recognize that there are a panoply of risks that attend any action and be pre pared, to the extent possible, to withstand the financial impact of them. This i s essentially the theory behind self-insurance. 2. Minimize the chances of the adverse event occurring, by implementing and enfo rcing safety measures. 3. Minimize the potential severity of the adverse event. 4. Shifting the burden of the financial impact of the adverse event to a third p art. This is the essence of

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