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Article: Reasons why risk management fails
- Article from:
- New Straits Times
- Article date:
- May 17, 2008
- Author:
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Joseph Eby Ruin
New Straits Times
05-17-2008
Reasons why risk management fails
Byline: Joseph Eby Ruin
Edition: Main/Lifestyle
Section: Main Section
Memo: Part 1
WHAT is failure? Failure is an outcome of event that does not jive with the expectation of the person. My own definition of risk has a good semblance with this interpretation or meaning of failure. My risk definition is "Risk is any happening, or event, incident or occurrence that sabotaged, marred, thwarted or prevented the positive outcome of my dreams, aims, objectives, targets, goals, wishes, or expectations".
RISK MANAGEMENT OBJECTIVES. The objectives of managing risks in an organisation are to ensure targets and goals are ...