Development of risk management system

Current risk management strategies of industrial enterprises.

Risk management assists to achieve different strategic objectives of the company, for example:

• increase company market value;
• maintain defined security level;
• reduce impact on the environment;
• follow the industrial rules and regulations;
• Keep planned utilization level of installed production capacities;

These objectives achieved by minimizing risks. But the relation between costs and acceptable risk level for different project can’t be the same.

Risk management system development consists of two stages:

• Formulating of risk management philosophy.
• Formalizing risk management business process.

To formulate risk management philosophy it is necessary to:

• Define the strategic goal for risk management;
• Formulate the well-defined main strategic goal of the company, all the others goals should defined as boundary limits of the mail goal;
• All goals must be measurable;

Risk management business process is risk management cycle.

Risk management defines risks as an opportunity to get new income and increase market values of the company but not as a forced costs, that reduces company value.

In today’s market conditions risk management is concentrated on capital and asset security, and company value management.