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2024 | OriginalPaper | Chapter

1. Risk Management: The Framework

Author : Herfried Kohl

Published in: Managing SMEs in Times of Rapid Change, Uncertainty, and Disruption

Publisher: Springer Nature Switzerland

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Key Topics in This Chapter: Mainly Qualitative

In this introductory chapter, the main generic processes of risk management are discussed. Especially, we deal with the following:

Risks and why risk management is critical for any type of organization.
Important examples of risks.
Definition of risks.
The characteristics of risks (probability of occurrence, impact, time horizon, etc.).
Risk management and the standard risk management process.
Risk identification, risk assessment, risk mitigation, and risk treatment.
Risk registers, risk portfolios, risk matrices.
Implementing effective risk controls.
Quantification, rating, and ranking of risks.
Why and how to comply with the international standard ISO 31000 for risk management.

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Title: Risk Management: The Framework
Author: Herfried Kohl
Publisher: Springer Nature Switzerland
Book: Managing SMEs in Times of Rapid Change, Uncertainty, and Disruption
Print ISBN: 978-3-031-71271-5

Electronic ISBN: 978-3-031-71272-2

Copyright Year: 2024
DOI: https://doi.org/10.1007/978-3-031-71272-2_1