risk management process
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2022 ◽  
Vol 18 (6) ◽  
pp. 54-65
E. A. Afanas’eva

Relevance. Nowadays, enterprises not only have to constantly introduce new products, but also to reduce development time, reduce costs, and improve the variety and quality of their products. In the product development process, risk management is too often underutilized and relegated to the background compared to product development planning and monitoring tools. Moreover, the measurement of process performance of risk management within product development is not defined and does not allow for comparison with peers or support continuous process improvement.The purpose of the study is to provide a framework for improving the risk management process performance in space product development. So that risk managers have the proper tools to monitor and understand where resources and efforts should be directed to improve the process.Results. This article identifies how to represent risk in product development and how to measure its impact on the performance of the risk management process in product development. Through a survey of key players in the Russian space industry, the study identifies different practices and needs in risk management, product development and performance measurement of these processes.Methods. Theoretical research methods: analysis, synthesis, classification, comparison, abstraction, generalization, modeling. Empirical method — survey: questionnaire survey. The key contribution of this study (to limit the usual delays and cost overruns in the space industry) is to establish specific characteristics and methods that can serve as a reference practice and basis for the future development of a tool that will assist in the evaluation of space development projects.

2022 ◽  
Vol 19 ◽  
pp. 361-375
Patrycja Kuder-Pucka ◽  
Rui Alexandre Castanho

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.

2022 ◽  
pp. 56-66
Rimsy Dua ◽  
Samiksha Sharma ◽  
Rohit Kumar

This chapter describes how risk management deals with the detection, the evaluation and the precedence of the risks in the process of project management. There is always an uncertainty factor related to the decisions of an investment while managing a project. Risk management is a proactive approach to deal with such future events that can lead to slow performance of the software project management. For successful risk management; there are different metrics that have been used in the past and are being getting used in the present for inspecting the progress of a project at specific points in a timeline that help in reducing the amount of risk. For the adoption of effective metrics for risk management, data is required. All of the metrics can be applied to the different domains of project, process and product. The chapter also covers strategies to advance, distinguish, estimate, and forecast the risk management process. A review of the key point indicators (KPIs) are also integrated along with the project metrics to signify the future and the present renderings.

2022 ◽  
pp. 250-269
Feride Bakar Türegün ◽  
Adnan Gerçek

The taxation power of governments affects companies' business activities. For this reason, the legal limit of tax law must be known by taxpayers. Uncertainty, frequent changes, and interpretation differences in the tax field and reporting reveal tax risks. Today, companies, especially large ones, accept tax risk as a part of the risk management process. Focusing on tax risk management, this chapter presents the discussions on various definitions of tax risk and on the tax risk categories, factors that affect tax risk. The applicability of tax risk management is evaluated from the following perspectives in the chapter: empirical analyses conducted in different countries, tax control framework, and tax risk management practice in various countries. As a result, tax risks are manageable with the support of cooperative compliance models of revenue administrations in countries, the necessity of corporate governance principles, the situation of legal regulations, and the increasing risk management experience of especially large companies.

2022 ◽  
pp. 30-47
Sayan Mercan Dursun ◽  
Meltem Mutluturk ◽  
Nazim Taskin ◽  
Bilgin Metin

Effective information asset management is the basis of information security as well as many other issues. IT risk assessments work well with the proper handling of asset values, and also it is for effectively securing information assets. There is also a wide variety of risk assessment methodologies. This chapter presents information about the overall IT risk management process and methodologies. Best practices are mentioned and occasionally compared based on the requirements of the information technology (IT) sector in practice. This chapter will provide deep knowledge about the IT risk management approach and construction to implementers, risk owners, IT auditors, executive managers, and other IT staff.

Anurudha Gishan Illangakoon ◽  
S. M. Ferdous Azam ◽  
Adam Amril Jaharadak

Purpose of the study: The microfinance industry has been developed significantly last two decades. It is fast becoming a household name globally and one of the key contributors to social-economic development. The Sustainability of the microfinance industry depends on several factors and encounters numerous challenges. The purpose of the study is to examine whether there is a relationship between risk management and the sustainability of the microfinance industry in Sri Lanka. Methodology: A simple regression analysis is used to demonstrate a connection in which one independent variable is predicted to influence one dependent variable. The study included 376 microfinance women borrowers from three districts in Sri Lanka, and the cluster sampling approach was used. Primary data was gathered using surveys, while secondary data was collected from CBSL, MFI annual reports, and the Microfinance Information Exchanger (MIX). Main Findings: The study findings reveal that effective risk Management has a significantly positive relationship with the Suitability of the Microfinance Industry in Sri Lanka. Research limitations/implications: The study was limited to three districts out of 25 districts in Sri Lanka, and the sample frame was selected from three leading MFIs that agreed to participate in the research. The availability of time for this study was limited and could not permit the consideration of all MFIs and the entire country. Novelty/Originality: The study concludes that MFIs should have a proper and effective risk management process, but it should be adequately handled and communicated to borrowers. It implies that proactive risk management is essential to the long-term Sustainability of microfinance institutions (MFIs).

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