Risk Management Division
Risk management is a technique of controlling and avoiding threats to business organization. It involves determining, analyzing, and mitigating harmful risk to an organization’s capital and earnings. Risk management is a practice which is required and followed by every business irrelevant of their size and nature. It aims at recognizing the potential threats in advance and takes all necessary steps to avoid their adverse effects on business operations. These risks and unfortunate events are faced by every business organization and may harmfully affect its capital or even may lead to its permanent closure. Timely identification and prioritization of these risks are quite important which is all done by implementing risk management techniques.
Risk management is a continuous process and works throughout the life of the project towards monitoring all risk factors. It focuses on controlling all possible future events by analyzing various past information like the probability of occurrence, historical data, lessons learned etc. Risk management supports the organization in the achievement of their goals by ensuring that all activities are running on their normal track. It develops a safe and secure work environment for all staff and customers and increases the stability of business operations.