What is Risk Management?
Risk Management (risk management) is a set of processes, activities and methods that enable risk to be assessed, i.e. identified, evaluated and controlled as effectively as possible, according to criteria that are acceptable to a company.
It's an approach that's specific to the company's activity. For example, a QSE manager will use risk management to manage all the risks associated with his activity, both operationally and in terms of standards. In this way, he or she meets the requirements of the ISO 900114001, 45001 and even MASE , which also deals with health, safety and environmental risks.
Some examples of occupational hazards:
Risk identification and assessment are critical aspects of Risk Management. Any company may be exposed to potential risks that could affect its financial health, reputation or continuity of operations. It is therefore important to understand the different types of risk and determine the best strategies for managing them.
The different types of business risk include financial, operational, compliance, security and reputational.
- Financial risks (exchange rate fluctuations, commodity price variations and potential losses linked to inappropriate investments),
- Operational risks (equipment failures, production interruptions, workplace accidents and supply chain disruptions),
- Compliance risks include non-compliance with regulations and laws,
- Security risks include data breaches, computer attacks and threats to the physical safety of employees and customers,
- Reputational risks can include scandals, negative comments on social networks and public controversy.
In conclusion, a in-depth risk assessment is essential to developing effective risk management strategies that can help protect companies against potential losses and support their long-term growth.
What are the benefits of good Risk Management?
Risk management has a real impact from a technical point of view, since it allows us to ask ourselves a large number of questions and find the best solutions for taking the fewest possible risks in carrying out the project.
It also has an impact from an organizational point of view: good risk management and good methods make life easier for the whole team. It also has an impact on the human side, because getting involved in risk management generates needs, training and skills. In human terms, we are enriched by risk management.
The final impact is bound to be economic. We've all heard the phrase: "The project's gone", and then all of a sudden we start to realize that we hadn't thought of this or that. Finally, there's a cost involved, and we can lose money very quickly on project management.
How are risks managed?
The way in which risks are managed remains fairly typical, mainly in Excel and PowerPoint format, with a maximum number of risks identified, to which we apply a rating that gives a figure.
This means that there is a real opportunity to offer high-performance tools to improve project risk management, and of course to improve project management in general.
The job of Chief Risk Officer :
Risk management is a process that must be designed and implemented by management and other company professionals. The Chief Risk Officer is the key person.
Its role is to manage and limit all risks (financial, operational, compliance, reputational) that have a major impact on the company's life and performance.
How can we optimize this management?
To optimizerisk management in project management, Symalean has created a solution to meet the needs of companies. A complete application that enables rapid reporting on a company's risk budget, as well as a continuously updated risk register that reflects the company's identity.
The safety solution facilitates and automates your risk assessment, enabling you to better manage and reduce all your occupational hazards.
It's a truly collaborative tool, with every operational feature enabling you to detect all system malfunctions in real time, so you can deal with them at source.
Last but not least, our mobile application makes your risk management missions easier. The application lets you work in the field in real time, with or without an Internet connection.
Kévin Pors - Founder of Manag'Risk
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