Risk Management in Company Providing Services on the International Market

2022 ◽  
Vol 19 ◽  
pp. 361-375
Author(s):  
Patrycja Kuder-Pucka ◽  
Rui Alexandre Castanho
Keyword(s):  
Risk Management ◽  
International Market ◽  
Enterprise Management ◽  
Management Process ◽  
Business Unit ◽  
Business Decisions ◽  
Risk Management System ◽  
Integrated Risk ◽  
Risk Management Process ◽  
Integrated Risk Management

Effective and integrated risk management requires integrating the risk management process into the enterprise management process. Each enterprise takes risks to achieve the planned results. The market economy creates both opportunities to achieve the planned profits and the risk of losses as a result of unfavorable changes in the company's environment and errors within the organization. At the time of making a decision, it is never certain how the conditions for the implementation of the planned project will develop in the future. Accounting, which is the most important element of the system, plays an important role in the risk management process information business unit. Nowadays, all business decisions are burdened with risk, which is why organizations more and more often decide to implement a risk management system.

scholarly journals THE RISK MANAGEMENT SYSTEM IS A TOOL FOR THE SUCCESSFUL IMPLEMENTATION OF INTERNATIONAL MEGAPROJECTS

2020 ◽  
Vol 11 (1) ◽  
pp. 98-103 ◽  
Author(s):  
D. V. Shamin
Keyword(s):  
Risk Management ◽  
Management System ◽  
Risk Tolerance ◽  
Successful Implementation ◽  
Monitoring And Control ◽  
Risk Management System ◽  
Management Processes ◽  
Integrated Risk ◽  
Risk Management Process ◽  
Integrated Risk Management

The article is devoted to the optimization of the processes of organization and management of international megaprojects based on the formation of a risk management system.Currently, the implementation efficiency of megaprojects remains low due to the emergence of many risks at various stages of project implementation.In this connection, it is proposed to form an integrated risk management system, which implies a three-stage structure for introducing the 6 element risk management system into the project life cycle, into the main project management processes.This article substantiates the need to form a risk management system in three stages in accordance with the key elements of a risk management system: (1) Planning – the block «Objectives and environment of the project»; (2) Approval of the project – the blocks «Identification», «Classification», «Assessment of risks and risk tolerance», «Risk management plan»; (3) Monitoring and control – the block «Control and monitoring of risks».Thus, the proposed integrated risk management system provides: continuity of the risk management process based on the audit of the RMS; the ability to adjust RMS at the stage of forecasting a risk event; possibility of scenario modeling for forecasting risk reduction potential; risk management program, formed by current risks in order to increase the attractiveness of the mega-project for the investor.It is also proposed to introduce an audit of risk management processes and procedures based on an adapted methodology for the following components of the risk management system: defining events and setting goals; the internal environment of the organization; organization risk assessment; risk control tools; responding to risks; communications and information; risk monitoring.This technique allows you to take into account risks not only at the stage of project development, but also during its implementation, which ensures its feasibility, as well as an audit algorithm for risk management systems of a megaproject is developed and recommendations for improving the RMS through this tool are proposed.

Study on the Model of Integrated Risk Management for BOT Projects

2012 ◽  
Vol 174-177 ◽  
pp. 3374-3377
Author(s):  
Gong Liang Jiang
Keyword(s):  
Risk Management ◽  
Management Process ◽  
Infrastructure Projects ◽  
Management Level ◽  
Management Ability ◽  
Integrated Risk ◽  
Risk Management Process ◽  
Process System ◽  
Management Flow ◽  
Integrated Risk Management

Build-Operate-Transfer (BOT) contracts have been increasingly adopting for large infrastructure projects. However, BOT contracts have been a very important model for the investing and building the basic establishment. In order to improve management level and risk management ability for BOT projects, the model of integrated risk management for BOT projects is discussed in this paper. The risk involved in each phase of the project is analyzed. This paper suggests methods to mitigate these risks and put forward the correlative management flow and risk management process system as well as support technology. The method and technique put forward by this paper would be used for risk management of BOT projects. And it is effective for improve risk management ability and reduce the risk in BOT projects.

A Process Architecture Approach to Manage Health Process Reforms

2011 ◽  
pp. 1600-1627
Author(s):  
Christine Stephenson ◽  
Wasana Bandara
Keyword(s):  
Risk Management ◽  
Process Modeling ◽  
Process Management ◽  
Management Process ◽  
Public And Private ◽  
Process Pattern ◽  
Integrated Risk ◽  
Risk Management Process ◽  
Process Architecture ◽  
Integrated Risk Management

Business Process Management (BPM) is often perceived as a top priority concern in organisations; both in public and private sectors. This has been clearly noticed in the Australian health care sector, evidenced by the Australian Government’s commitment to pursuing a reform agenda that reflects a new approach to improving health and aged care services. The adoption of a business process management approach can be a key tool to facilitate health reform in the public and private sectors. This approach provides a structured and hence rigorous approach to ensure that health processes are reviewed, improved and implemented consistently throughout the organisation, especially where public health services are provided from multiple service points. Process modeling is an embedded component of most BPM initiatives, yet a resource intensive task. How process models can be derived efficiently (i.e. with less resources and time) and effectively (at a high quality to meet the specific needs) is an integral element of interest to most organisations, however, this area of research is still in its infancy. This paper aims to address this gap by proposing a ‘process-pattern’ based approach to process modeling where models are created and managed within a ‘process architecture’. The process pattern approach is explained with evidence from a large state based health organisation using an integrated risk management process for health care service management as an example. The study employed an action research approach and the chapter unfolds its findings around the main phases of the research method. The contributions from this work are twofold. From the perspective of practice, it offers a validated high level example of a process pattern for an Integrated Risk Management Program for health. From an academic perspective: it presents a validated Risk Management process pattern for delivering health services which can be used as or a benchmark in further research.

A Process Architecture Approach to Manage Health Process Reforms

2010 ◽  
pp. 289-318
Author(s):  
Christine Stephenson ◽  
Wasana Bandara
Keyword(s):  
Risk Management ◽  
Process Modeling ◽  
Process Management ◽  
Management Process ◽  
Public And Private ◽  
Process Pattern ◽  
Integrated Risk ◽  
Risk Management Process ◽  
Process Architecture ◽  
Integrated Risk Management

Business Process Management (BPM) is often perceived as a top priority concern in organisations; both in public and private sectors. This has been clearly noticed in the Australian health care sector, evidenced by the Australian Government’s commitment to pursuing a reform agenda that reflects a new approach to improving health and aged care services. The adoption of a business process management approach can be a key tool to facilitate health reform in the public and private sectors. This approach provides a structured and hence rigorous approach to ensure that health processes are reviewed, improved and implemented consistently throughout the organisation, especially where public health services are provided from multiple service points. Process modeling is an embedded component of most BPM initiatives, yet a resource intensive task. How process models can be derived efficiently (i.e. with less resources and time) and effectively (at a high quality to meet the specific needs) is an integral element of interest to most organisations, however, this area of research is still in its infancy. This paper aims to address this gap by proposing a ‘process-pattern’ based approach to process modeling where models are created and managed within a ‘process architecture’. The process pattern approach is explained with evidence from a large state based health organisation using an integrated risk management process for health care service management as an example. The study employed an action research approach and the chapter unfolds its findings around the main phases of the research method. The contributions from this work are twofold. From the perspective of practice, it offers a validated high level example of a process pattern for an Integrated Risk Management Program for health. From an academic perspective: it presents a validated Risk Management process pattern for delivering health services which can be used as or a benchmark in further research.

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