Risk identification and visualization techniques for reasonable enterprise risk management

Abstract

In today’s business environment risk retains its position high on every organization’s agenda. The ability to anticipate and assess threats determines the efficiency of responses to risk, and, in turn, the attainment of the company objectives. Thus risk identification can be seen as a critical part of the risk management process. Along with that, substantial attention should be paid to methods and techniques of risk identification, further assessment of the risks identified and the visualization of the whole situation. The techniques of determining potential risks will be analysed in the paper, proposing suitable combination of these techniques and assessing their impact on enterprise risk management.