Risk and Risk Management Concept
Transcript of Risk and Risk Management Concept
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RISK CONCEPT
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The W rld
Becomesa
Riskier Place
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Definition of risk Arthur Williams dan M.H Richard
A variation of outcomes that can be happen during specified period
Abbas Salim
Uncertainty that probable produces loss
Herman Darmawi
The probability of outcome different with expected result
James S. Trieschmann et al
Uncertainty concerning loss
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Uncertainty event at futurethat not only influence the
income of a business entitybut also can determine the
alive or die it entity
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Risk Characteristics
Uncertainty
Concerning loss
For specific talk :
Has the meaning problems andopportunities
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Forming of risk
Loss of Assets ; eq fire, robbery, etc
A human suffering ; eq accident anddeath
Third party liability
Loss as the resulted of economiccondition, change of consumerspreference, and etc
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Some of cause that
increasing theuncertainty
Time gap of planning andexecution
Lack of Information
Lack of Skill
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UncertaintyClassification
Economicuncertainty
Nature uncertainty Human uncertainty
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Risk Classification
Pure risk pure concerning loss
[eq: fire, disaster, robbery]
Speculative risk concerning profit orloss
[eq: gambling, investment decision]
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Risk Classification (2)
Systemic Risk /Fundamental risk
consequences to many
[eq: disaster]
Unsystemic risk / Particular risk
consequences to some people/party[eq: fire]
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Risk Classification (3)
Static Riskstable equilibirium
[eq: death, old day] Dynamic Risk changed by technology
advance, sociology, and another reasons
[eq: computer tech]
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Risk Classification (4)
Transferablerisk
transfer toinsurance company
[eq: pure risk]
Untransferable riskcan not betrasfered to insurance company
[eq: speculative risk]
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Risk Classification (5)
Internalrisk
coming from insideof corporation
External riskcoming fromoutside corporation
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Risk Classification (6)
Financialrisk (unphysical)
coming from financial transaction
Operational risk (physical) coming from operational events
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Important Terminologies Peril , events or incidents that concerning loss (directly)
[eq: fire, robbery, accident]
Hazard, conditions that enlarge the probability of perilType ofhazard ..
Exposure, the object that probable hitted by peril
Probality , the possibility ofevent that concerning loss
The law of the large numbers, bigger exposuremakes more accurate result
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Type of Hazard
Physical Hazard[eq: slippery road, blind turning,..]
Moral Hazard
[eq: forgetfull, careless, .]
Legal Hazard,
[eq: workers not use the safetyequipment , ]
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RiskManagement
The implementation of managementfunctions in risk taking that faced byorganization/company, family,
individual and society
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Risk Management Process
Identify Risk Evaluate Risk (measure and judge)
Select risk management techniques
Implement and review decisions
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The contribution of riskmanagement for...
Individual / risk manager Company/corporation/institution
Family
Society
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FINISH
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Tugas Kelompok(Tugas Mingguan II)
Tentukan ketua kelompok Kelompok Cari Nama (nama paling hebat akan
diberikan nilai tertinggi)
Berikan alasan logis penamaan kelompok tersebut
Menjawab 3 pertanyaan yang diberikan (cari
perusahaan yang MR baik, kemukakan alasan, 5macam risiko, cara penanggulangan)
Menyerahkan tugas kelompok dalam bentuk doublefolio/ketikan