Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities. Risks can come from various sources including uncertainty in international markets, threats from project failures (at any phase in design, development, production, or sustaining of life-cycles), legal liabilities, credit risk, accidents, natural causes and disasters, deliberate attack from an adversary, or events of uncertain or unpredictable root-cause. There are two types of events i.e. negative events can be classified as risks while positive events are classified as opportunities. Risk management standards have been developed by various institutions, including the Project Management Institute, the National Institute of Standards and Technology, actuarial societies, and ISO standards. Methods, definitions and goals vary widely according to whether the risk management method is in the context of project management, security, engineering, industrial processes, financial portfolios, actuarial assessments, or public health and safety.Certain risk management standards have been criticized for having no measurable improvement on risk, whereas the confidence in estimates and decisions seems to increase. Strategies to manage threats (uncertainties with negative consequences) typically include avoiding the threat, reducing the negative effect or probability of the threat, transferring all or part of the threat to another party, and even retaining some or all of the potential or actual consequences of a particular threat. The opposite of these strategies can be used to respond to opportunities (uncertain future states with benefits). As a professional role, a Risk Manager will "oversee the organization's comprehensive insurance and risk management program, assessing and identifying risks that could impede the reputation, safety, security, or financial success of the organization", and then develop plans to minimize and / or mitigate any negative (financial) outcomes. Risk Analysts support the technical side of the organization's risk management approach: once risk data has been compiled and evaluated, analysts share their findings with their managers, who use those insights to decide among possible solutions. See also Chief Risk Officer, internal audit, and Financial risk management § Corporate finance. (Wikipedia).
QRM L1-1: The Definition of Risk
Welcome to Quantitative Risk Management (QRM). In this first class, we define what risk if for us. We will discuss the basic characteristics of risk, underlining some important facts, like its subjectivity, and the impossibility of separating payoffs and probabilities. Understanding the d
From playlist Quantitative Risk Management
Introducing: RiskMinds in Focus
What does it take to be a leading risk mind in 2021? Managing uncertainty, technology risk and regulatory developments. A virtual week of precision-engineered content laser-focused on how risk managers can add value and enable business transformation. Join the days that matter to you. Me
From playlist RiskMinds 2021
What is Value at Risk? VaR and Risk Management
In todays video we learn about Value at Risk (VaR) and how is it calculated? Buy The Book Here: https://amzn.to/37HIdEB Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle What Is Value at Risk (VaR)? Value at risk (VaR) is a calculation that aims to quantify the level of
From playlist Risk Management
What's the main mistake that risk managers are making with conduct risk and compliance?
Peter Tyson, Head Of Conduct & Compliance, Standard Life, explains the key mistakes that risk managers are making with conduct and compliance at RiskMinds Insurance 2016.
From playlist Insurance risk: Predict risk in an unpredictable world
QRM L1-2: The dimensions of risk and friends
Welcome to Quantitative Risk Management (QRM). In this second video, we analyse the dimensions of risk. Risk is in fact an object that we need to consider from different points of view, and that sometimes we cannot even quantify. We will also discuss the importance of statistical thinking
From playlist Quantitative Risk Management
What is Plan Risk Management? | Risk Management Processes Tutorial
This video talks about: Agenda→Purpose and Objetives of the Plan Risk Management process, critical Success factors for the plan risk management Process, tools and techniques for the plan risk management process, Documenting the results of the plan risk management process, Quiz.to devel
From playlist PMI-RMP® Training Videos [2022 Updated]
Chris Matten at Risk Minds International 2015 | The risk management industry's biggest challenge
Chris Matten, Partner, Singapore Risk Assurance Practice at PwC, speaking at Risk Minds International 2015 in Amsterdam on the biggest challenge facing the risk management industry.
From playlist RiskMinds Live 2015
Welcome to Quantitative Risk Management (QRM). In this lesson we introduce the axiomatic approach to risk measures. We give the definition of risk measure and we discuss what its uses for us are in terms of reserve capital quantification. We then define coherent and convex measures. The p
From playlist Quantitative Risk Management
Cory Gunderson | What are the key trends in risk management?
Cory Gunderson, Managing Director of Protiviti, speaking at Risk Minds International 2015 in Amsterdam on the key trends to watch out for in risk management.
From playlist RiskMinds Live 2015
PMI-RMP® Training Videos | Lesson 2: Risk Management Framework | Simplilearn
The Risk Management Framework (RMF), provides a disciplined and structured process that integrates information security and risk management activities into the system development life cycle. 🔥Free Project Management Course: https://www.simplilearn.com/learn-project-management-fundamentals-
From playlist PMI-RMP® Training Videos [2022 Updated]
PMI-RMP® Training Videos | Lesson 4: Project Risk Management Processes | Simplilearn
Managing risks on projects is a process that includes risk assessment and a mitigation strategy for those risks. Risk assessment includes both the identification of potential risk and the evaluation of the potential impact of the risk. A risk mitigation plan is designed to eliminate or min
From playlist PMI-RMP® Training Videos [2022 Updated]
PRINCE2® Foundation Training Videos |PRINCE2® Risk Theme | PRINCE2® Certification | Simplilearn
This PRINCE2® Foundation Training Video will explain the key terms of PRINCE2® Risk theme and the approach to Risk theme. You will also understand the roles and responsibilities in PRINCE2® Risk theme. 🔥Explore Our Free Courses: https://www.simplilearn.com/skillup-free-online-courses?utm_
From playlist PRINCE2 Foundation Training Videos
PMI-RMP® Training Videos: Lesson 1 | Simplilearn
The Risk Management Course empowers you to develop knowledge and skills required to clear your PMI-RMP® exam in first attempt. Risk Management Professional certification demonstrates a professional’s specialization in assessing, identifying and controlling risks. This course will enable yo
From playlist PMI-RMP® Training Videos [2022 Updated]
Introduction to PMI-RMP® | RMP® Based on PMBOK Fifth Edition | RMP® Video Tutorial
http://www.simplilearn.com/project-management/pmi-rmp-training?utm_campaign=videonamet&utm_medium=youtube&utm_source=youtube This video talks about: Agenda - Information related to PMI-RMP® and PMI® - PMI-RMP®: Risk Management Professional PMI: Project Management Institute PMI is an Orga
From playlist PMI-RMP® Training Videos [2022 Updated]
Introduction to PMI-RMP® Certification Course | PMI-RMP® Based on PMBOK Fourth Edition
http://goo.gl/ZEyF7. "Watch PMI-RMP Videos Online. Simplilearn Solutions More than 30,000 professionals across 120+ countries including training aspirants from the world's leading Fortune 500 companies have used our learning methodology to grow their careers. Simplilearn is providing 6
From playlist PMI-RMP® Training Videos [2022 Updated]
Risk Management For Project Leaders | Simplilearn Webinar
Risk Management for project Leaders - A Webinar by Susanne Madsen There are two dimensions of Risks. Probability - How likely or unlikely is the risk to happen? Impact - What is the effect on the project's objectives in case it happens? Risk management matters for avoidance of issues, im
From playlist Simplilearn Live
Qualitative Risk Analysis | What Is Qualitative Risk Analysis? | PMI-RMP Course | Simplilearn
This video will help you know how to perform Qualitative Risk Analysis. How to identify critical ridk factors and tools and techniques required to document the result of the Analysis. 🔥Free Project Management Course: https://www.simplilearn.com/learn-project-management-fundamentals-skillup
From playlist PMI-RMP® Training Videos [2022 Updated]
Qualitative And Quantitative Risk Analysis Explained | Risk Analysis Techniques | Simplilearn
In this video on Qualitative and Quantitative Risk Analysis, we'll go into detail about how each of them work, how it's performed and the tools and techniques required to document it. 🔥Explore Our Free Courses With Completion Certificate by SkillUp: https://www.simplilearn.com/skillup-free
From playlist PMI-RMP® Training Videos [2022 Updated]
What is Control Risk? | What is Monitor Risk?
This video talks about: Agenda→Purpose and objective of the monitor and control risk process, critical success factors for the monitor and control risk process tools and techniques for the monitor and control risk process Documenting the results of the monitor and control risk process Clic
From playlist PMI-RMP® Training Videos [2022 Updated]
Quantitative Risk Analysis | What Is Quantitative Risk Analysis? | PMI-RMP Course | Simplilearn
This video on Quantitative Risk Analysis will help you understand how to perform Quantitative RIsk Analysis, List the tools and Techniques required for the analysis.This Video will also help you in EMV analysis and Probability Distribution. #QuantitativeRiskAnalysis #WhatIsQuantitativeRis
From playlist PMI-RMP® Training Videos [2022 Updated]