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Article: Effective risk management
- Article from:
- New Straits Times
- Article date:
- May 3, 2008
- Author:
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Josef Eby Ruin
New Straits Times
05-03-2008
Effective risk management
Byline: Josef Eby Ruin
Edition: Main/Lifestyle
Section: Main Section
THE starting point in initiating an organisation's risk management structure is to have a sound risk management policy. This policy has to be understood by all levels of management, especially those associated with its execution.
A sound risk management policy has strategies for planning and controlling all the conceivable elements of risk that are inherent in the daily lives of individuals or in the operations of an organisation. It should look at the risks affecting an organisation in totality, impacting that organisation as a corporate entity rather ...