pros and cons of risk management?
594658
No matter how you look at risk, at the end of the day, risk is about the possibility of losing money.  Risk management is about assessing the risk you are taking and make sure you are properly compensated for the risk you are taking.  If the costs are too high and the beneifts are too low, you shoudn't take such risk.  \n\nThere are a lot of pros and not a lot of cons on risk management.  It's something every person or a company should do.  The only con I can think of is not to overspend on managing risk.  If the cost of risk management outweight the cost of the risk itself, what's the point.  It's like paying $100 to buy an insurance policy that pays you $90.
494634
Before making any decision (such as whether to acquire another business, build another plant, hire more people, invest in a new product, etc.), management should weigh the costs (potential risks included) vs. the benefits to be gained (profits).\n\nThus, for example, if you could make $500/unit of some new product that costs $1000 to develop, you would only need to sell 2 units to break even.  If it is feasible to sell 3 or more, according to this cost/benefit analysis, developing the new product is a good business decision. (bad example, but it should illustrate the point)
185823
Risk in a few words is the potential of it being dangerous or just losing out in what one may value.\n\n  Webster's dictionary - risk -  the possibility of loss or injury.  \n\n\nDanger - is that the possibility if it becoming hazardous and inflicting pain or possible death.  \n\n\nWebsters - Danger - Harm, Damage, exposure or liability to injury, pain, harm, or loss.
646405
Be careful.\n\nThat environment can be dangerous.
164216
Let's define risk as being exposed to uncertainty.  Then portfolio risks are those uncertainties that exist because you have constructed a set of investments, which are called a portfolio.  The construction process exposes you to risks that may not exist in an individual investment.
243591
The stages of project risk management are as follows :\n\nRisk Identification\nRisk Analysis\nRisk Response Planning\nRisk Monitoring and Control\n\nYou can find a good example of how this is done at the link below.
138308
There's no "better" or "worse"; just varying levels of risk.  Put what you can afford to lose in higher risk accounts, because...it IS higher risk, and it's possible (although not likely) that you could lose all of it.
760394
I am an MD. The practice of medicine is largely an analysis of risk versus benefit. There are always risks with every intervention, and hopefully there are benefits or potential benefits to the same intervention. We never recommend an intervention unless the benefits outweigh the risks. One example might be that a patient of mine recently strained his back, and then asked me to prescibe high doses of adrenocorticosteroid for him. I told him that I did not think the benefits outweigh the risks in this instance. We tried some more conservative treatments and he did fine. On the other hand, another patient of mine was recently diagnosed with Multiple Myeloma, a bone marrow cancer. In his case high dose adrenocorticosteroids were just the ticket. I hope this helps.
393808
The disadvantages of leaving early would be not finishing your degree. There is always the possibility of a major injury that would finish your career, if you don't already have enough money secured to fall back on, you'll need to go to work. Without a degree that could be very tough. There is also the theory that college is the best time of your life, and you would be missing out on part of that. You could back when you were older, but its not the same. \n\nThe main advantage is obviously, the money. You have the potential to make a ridiculous amount of money that would most likely never be able to make with just the degree you were working on. Also, if you leave early, you don't have to worry about getting hurt while you are still in school and ruining your chance at the pros. However, you could take out an insurance policy on yourself to help manage that risk.\n\nThese are the basics.
1116209
Lots of advantages, depending on your viewpoint, but these are the disadvantages I see:\n1. Really sick kids, as in critically ill children. You have to be able to separate yourself from that. \n2. You're often on-call EVERY night - unless you're in a big enough group that alternates call. \n3. Primary care doctors (pediatricans, GPs, Internal medicine, etc.) are often low on the HMO food chain, so if you're going into medicine for the money, become a specialist. \nGood luck!
845220
The Operational Risk Management (ORM) program in the US Department of Defense says these are the basic steps:\n\n1 Identify Hazards \n2 Assess Hazards \n3 Make Risk Decisions \n4 Implement Controls \n5 Supervise
104121
Risk is the exposure to uncertainty.  An insurance policy is an exchange of a certain loss (the premium) to have another party (the insurer) absorb all or part of the negative consequence of being exposed to that uncertainty.\n\nFor example, you have virtually no risk of dying in an airplane crash if you do not get in an airplane.  You are not exposed, other than that a plane could fall on you.  Likewise, if you jump out of an airplane without a parachute, there is no risk.  You have all the exposure in the world, but it is certain that you will be killed.  There may be some trivial risk that you live but it is so small that it can be ignored.\n\nYou need two things, uncertainty and exposure.  Life insurance is a good example, you know for certain that you will die, you do not know when.  The insurer covers you against premature death.  Its reverse, the immediate annuity, covers you against living too long and running out of investment resources.
1125321
Risks to whom: the business or the investor?
400008
if you're not happy with your job. Then find one.\nif you want to resign. why not?\nas long as you go with your instincts,\nand you feel that everything will be okay,\nplus you know for yourself that you'll be happier with the decision.\n\nafter all, great risks leads to great success.
607060
Yes, especially new projects or greatly changed existing projects.\n\nReview Benifits vs Cost, Resources required, expected Return on Investments, Marketing Analysis Expectations, Safety Considerations, Technology Use, Mfg Local, Industrial vs Commercial vs Military.\n\nKinda Like taking Murphys Law and turning it upside down or inside out to assure success in the short term as well as in the long term.
951910
Pros: controlled, documented processes; accountability; compliance; \n\nCons: Inefficient; Perceived lack of accountability; Quality issues;\n\nGood Book: Cemetary Nights by Stephen Dobyns
395385
Mining is more risky because of the unknowns related to the geology. Also many mines have veins of coal or ore that are very thin and you end up practically crawling along on all fours.\n\nI have worked on a drilling rig. The hours can be long and the work dirty but the safety record is much better and the risks lower.