Aspects of risk management in the company or industrial business projects

Abstract

In all economic situations there is a risk of failure of realization of a plan, because it is impossible to fully remove potential objective reasons which could condition undesirable development of events, and as a result, a deviation from a chosen aim. However, it is always possible to find a way to obtain the selected strategic goal; a way which would offer a balance between the expected profit and the threat of a loss conforming to some compromising level of risk. The aim of this article is to survey the concept and essence of risk, the classification of risk types, the issue of identifying and measuring risk, and to define the methods of risk management and determining effects. The work reviews and interprets methodologies suggested by various authors and uses specialized statistic and business projects evaluation programs to offer a practical business projects assessment strategy and results analysis.