Graphical presentation of risk assessment in management decision making process

Abstract

The paper introduces the integration of the risk graphic presentation into the complex approach of the evaluation and selection of management decision. The graphic presentation is an easy and accessi-ble way of the risk assessment which has clarity and visibility. It can be carried out on the bases of real data with no big volume. Its important characteristic is the presentation of the risk in its development. Its advantages are a reason to look for the possibility of its integration in a new approach for assessment of alternatives when selection a management decision. The graphical presentation of the risk gives the data necessary for the simultaneous processing of economical, technological and ecological factors. The pro-cedure compares the alternatives factors through there relative usefulness. An arrangement of the factors relative to their importance and weight is introduced for accurate and precise assessment. The new ele-ment in the method is the usage of the quality of the risk graphic presentation into a complex, parallel as-sessment of the alternatives when selecting a management decision in order not to allow loss of resources and get advantage in the competitive struggle. The practical application of the method is presented using factors as price of the acquisition of material assets, exploitation expenses, ecological compliance and risk.