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INTRODUCTION

The objective of risk management is to identify, assess and address risk positions before that threats to a specific project or for the organization as a whole. The risk management plans should include short-term and long-term risks for programs project, cost and functionality, appropriateness and quality of project deliverables. Risk management is an integral part of overall efforts underwriting of the quality necessary to minimize the major sources of rework, schedule and cost overruns, and the performance and quality degradation.

RISK MANAGEMENT PRINCIPLES

 

• Risk management should create value.
• Risk management should be an integral part of organizational processes.
• Risk management should be part of decision making.
• Risk management should explicitly address the uncertainty.
• Risk management should be systematic and structured.
• Management Risk should be based on the best information available.
• Risk management should be adapted.
• Risk management should take into account the human factors.
• Risk management should be transparent and inclusive.
• Risk management should be dynamic, interactive and responsive to change.
• Risk management must be capable of continuous improvement and enhancement.

 

CATEGORIES RISK MANAGEMENT

 

Risk Management consists of the following two broad categories activities, ie …

• Risk Assessment
• Risk Control

• RISK ASSESSMENT

Risk assessment consists of hazard identification, risk analysis, and prioritization of risks.

• • Risk Identification

It seeks to identify issues or events (such as changes in customer requirements or technology development) that can have a significant negative impact on the project. These articles or events can be identified through checklists of risk identification, through reporting by project participants through comparison with historical data, or through contingency plans to accommodate the "Murphy's Law."

• • Risk Analysis

Used decision analysis, cost risk analysis, program analysis, analysis reliability, and similar techniques and models to analyze the risks identified.

• • Risk Prioritization

It employs the quantification of risk and risk exposure, and use of decision-making mechanisms based on statistics.

• RISK CONTROL

Control risk is the risk management planning, risk resolution and risk control.

• Risk Management

This uses the purchase of information, risk prevention, risk transfer and reducing risks to achieve their goals.

• Risk Resolution

This technical decisions include the allocation of adequate staff, detailed cost estimating multiple sources and programming, monitoring, prototyping, benchmarking requirements, and simulation.

• Risk Monitoring

Provides visibility of risk and timely resolution. Incorporates techniques such as tracking milestone, the main risk monitoring, and reassessment of normal risk. The risk management plans, such as human resources initiatives are documents living that will be updated as new risks are identified and addressed.

Risk assessment and the Resource Executive human

According to the above definition, risk assessment is the identification, analysis and prioritization.

The executive HR can identify a risk and a specific need not being addressed. For example, there is a deviation between what should happen to the operation and what is happening. This deviation causes productivity to drop slowly but steadily. Top management is aware of this drop in productivity and is motivated to rectify the situation.

The human resource executive have identified a risk, lower productivity, for example, begins to define the risk in terms the human factor. This is the underlying cause of falling productivity. Perhaps the line manager is not communicating effectively with staff.

 

 

 

The HR Executive and Risk Management

The human resource executive has a vital role in controlling risks. An important component of planning risk management is risk avoidance. Many risks can be avoided by controlling and planning the human side of the business equation. Planning succession, appropriate separation and outplacement, executive coaching and development will ensure that an organization has the means to deal with the resolution Current and future challenges. Risk and control are important responsibilities for human resource executives. Identify the essential attributes for key executives within an organization, training and development of these attributes and supervision of executives on an ongoing basis to help minimize and resolve the potential risk areas, such as employees The turnover of low morale, any disputes that arise from misunderstandings between staff and management and negative publicity due to any of these or other human issues.

APPLICATION

Follow all the methods for mitigating the effects of risks. Policies purchase insurance risks have decided to transfer to an insurer, avoid all risks can be avoided without sacrificing the goals of the organization, reducing other, and keep the rest.

LIMITATIONS

If the risks are poorly evaluated and prioritized, time can be spent on addressing the risk of loss are not likely to occur. Spending too much time assessing and managing unlikely risks can divert resources that could be used more profitably. Improbable events occur, but if the risk is quite unlikely to occur can be better, just keep the risk and deal with the outcome if the loss actually occurs.

Prioritize too the risk management organization could maintain a never finish a project or even started. This is especially true if the job other is suspended until the risk management process is considered completed.

CONCLUSION

The people and risk are an integral part of agriculture such as climate, prices and technology. Human resources must be careful attention if managers must have a full understanding of its sources of risks and alternatives for managing risks. paradigms of managers, understanding of resource management human and human resource skills that will determine success with people. Like the rest of the risk management, blaming others for shortcomings in the management does not solve problems, or provide escape from problems. The good news is that managers can make human resource management one of its strengths. The result will be better risk management, better management and greater satisfaction of working with people.

 

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Article Source: ArticlesBase.com – RISK MANAGEMENT IN HUMAN RESOURCES

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