Risk Management

Risk management is the continuing process to identify, analyze, evaluate, and treat loss exposures and monitor risk control and financial resources to mitigate the adverse effects of loss. Also risk management is a discipline for dealing with the possibility that some future event will cause harm. It provides strategies, techniques, and an approach to recognizing and confronting any threat faced by an organization in fulfilling its mission. Also risk management is the process of assessing risks and taking steps to either eliminate or to reduce them (as far as is reasonably practicable) by introducing control measures. It involves a holistic perspective of an organization in order to control events and arrange financing for expenses that may negatively impact its efficiency or impede achievement of corporate goals, such as continuity, stability, market share, dividend return, and growth. It is a financial function that must interface and have knowledge of business activities at the operating level.

Some risk that we encounter our thesis project:

• budget and schedule
• lack of resources
• developing the wrong interface
• cooperation of each members