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What is Risk Management

Chapter 2
Innovations, Securities, and Case Studies Across Healthcare, Business, and Technology
Risk management is the systematic process of identifying, assessing, and prioritizing potential risks or uncertainties that may adversely affect an organization’s objectives, resources, or reputation.
Published in Chapter:
Investigating a Marginalized Business Asset: Opportunity Risk
Laura Ann Jones (Capitol Technology University, USA) and Ian McAndrew (Capitol Technology University, USA)
Copyright: © 2024 |Pages: 24
DOI: 10.4018/979-8-3693-1906-2.ch002
Abstract
This study explores the concept of opportunity risks, which involve pursuing uncertainties to achieve favorable outcomes. The goal of this study is to offer practical applications for opportunity risk management in the cybersecurity environments of organizations that seek to include this often-overlooked factor in their decision-making process. Opportunity risks are significant to cybersecurity environments and industries seeking to enhance their decision-making processes and risk response options. Despite the need for better decision-making approaches in a world that is increasing in hyper-intelligence and technological transformation, opportunity risk remains a marginalized business asset. This research sheds light on a more balanced approach to managing risks. A systematic literature review was the primary research method used in this study to investigate opportunity risk. This study aims to identify and evaluate relevant theories, approaches, and techniques for leveraging the favorable side of risks.
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Chapter 9
Reinvigorating Organizational Effectiveness and Sustainability Through Risk Assessment Tools Within the Construction Industry
Risk management has been defined as the systematic implementation of management policies and practices for the purpose of establishing the perspectives of risk scenarios. Further it is a process of identifying, analyzing, evaluating, treating, monitoring, communicating and reviewing risk.
Published in Chapter: Reinvigorating Organizational Effectiveness and Sustainability Through Risk Assessment Tools Within the Construction Industry; From: Remote Work and Sustainable Changes for the Future of Global Business
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Chapter 4
A Composite Risk Model for Optimizing Information System Security
The practice of identifying and analyzing potential risks in advance and taking precautionary steps to limit risk.
Published in Chapter: A Composite Risk Model for Optimizing Information System Security; From: Optimizing Data and New Methods for Efficient Knowledge Discovery and Information Resources Management: Emerging Research and Opportunities
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Chapter 8
Activity: Initializing the IT Audit Report
Refers to a systematic approach for identifying risk and defining the impact on an enterprise’s ability to provide goods and services ( Davis, 2008 ).
Published in Chapter: Activity: Initializing the IT Audit Report; From: IT Auditing Using a System Perspective
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Chapter 12
eRiskGame: A Persistent Browser-Based Game for Supporting Project-Based Learning in the Risk Management Context
Activity linked to the Management Projects which deals with the monitoring and eventual combat to the risks involved in a software project.
Published in Chapter: eRiskGame: A Persistent Browser-Based Game for Supporting Project-Based Learning in the Risk Management Context; From: Handbook of Research on Serious Games as Educational, Business and Research Tools
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Chapter 525
Risk Management in the Digital Economy
The range of activities that may be taken to avoid the occurrence of an undesirable event or to modify, minimize, or eliminate the consequences should the event occur (e.g., an insurance policy against particular risks would not prevent the occurrence, but would compensate for the financial and other consequences of the outcome).
Published in Chapter: Risk Management in the Digital Economy; From: Encyclopedia of Information Science and Technology, Second Edition
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Chapter 12
Communication and Coordination Issues in Managing Distributed Scrum Teams
Defining and implementing procedures to assess the risks faced by an organization, with the goal of taking appropriate preventive measures.
Published in Chapter: Communication and Coordination Issues in Managing Distributed Scrum Teams; From: Perspectives on Workplace Communication and Well-Being in Hybrid Work Environments
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Chapter 10
Aligning Risk Perspectives Between the Chief Risk Officer and the Chief Information Security Officer
Risk management is the systematic process of identifying, evaluating, prioritizing, and addressing potential threats, uncertainties, and opportunities that an organization may encounter in achieving its objectives.
Published in Chapter: Aligning Risk Perspectives Between the Chief Risk Officer and the Chief Information Security Officer; From: Real-World Solutions for Diversity, Strategic Change, and Organizational Development: Perspectives in Healthcare, Education, Business, and Technology
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Chapter 45
CAMCE: A Framework for Climate Adaptation and Mitigation
Is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events
Published in Chapter: CAMCE: A Framework for Climate Adaptation and Mitigation; From: Handbook of Research on Green ICT: Technology, Business and Social Perspectives
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Chapter 10
SMEs in the Face of Crisis: The Supply Chain Risk Management Perspective
A business process, which includes identifying and evaluating different risks, followed by an approach to control and monitor their development.
Published in Chapter: SMEs in the Face of Crisis: The Supply Chain Risk Management Perspective; From: Increasing Supply Chain Performance in Digital Society
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Chapter 13
Information Security Threats in Public and Private Organizations: Evidence From Romania
The implementation and updating of methods and tools to minimize risks associated with the information system of an organization, such as the Information Security policies, procedures and practices associated formalized and adopted other means in order to bring these risks to acceptable levels.
Published in Chapter: Information Security Threats in Public and Private Organizations: Evidence From Romania; From: Global Cyber Security Labor Shortage and International Business Risk
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Chapter 11
Using Blockchain for Smart Contracts
The act of handling the risk exposure through mitigation, acceptance, sharing and avoidance.
Published in Chapter: Using Blockchain for Smart Contracts; From: Innovative and Agile Contracting for Digital Transformation and Industry 4.0
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Chapter 87
Cybersecurity Risks in Romanian Companies
The implementation and updating of methods and tools to minimize risks associated with the information system of an organization, such as the Information Security policies, procedures and practices associated formalized and adopted other means in order to bring these risks to acceptable levels.
Published in Chapter: Cybersecurity Risks in Romanian Companies; From: Encyclopedia of Organizational Knowledge, Administration, and Technology
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Chapter 5
Cyberaccounting for the Leaders of the Future
The implementation and updating of methods and tools to minimize risks associated with the information system of an organization, such as the Information Security policies, procedures and practices associated formalized and adopted other means in order to bring these risks to acceptable levels.
Published in Chapter: Cyberaccounting for the Leaders of the Future; From: Improving Business Performance Through Innovation in the Digital Economy
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Chapter 8
Cognitive Integrated Business Planning
Risk management is the process of doing what-if scenarios to enable risk mitigation strategies so as to minimize the impact of unfortunate events.
Published in Chapter: Cognitive Integrated Business Planning; From: Technology Optimization and Change Management for Successful Digital Supply Chains
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Chapter 460
Concept and Practices of Cyber Supply Chain in Manufacturing Context
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Chapter 261
GIS and Remote Sensing in Environmental Risk Assessment
The responding practices to better mitigate hazards or recover from any associated adversary impact. Typically, effective risk management includes pre-disaster mitigation planning by means of insurance, land use regulation, and technology; rapid and effective emergency responses during the emergency; post-disaster recovery and rebuilding management; and increased public awareness education.
Published in Chapter: GIS and Remote Sensing in Environmental Risk Assessment; From: Encyclopedia of Information Science and Technology, Second Edition
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Chapter 20
ICT Security Policy: Challenges and Potential Remedies
The identification, assessment, and prioritization of vulnerability risks followed by coordinated and application of measures to minimize, monitor, and control the probability and/or impact of threats and attacks.
Published in Chapter: ICT Security Policy: Challenges and Potential Remedies; From: Handbook of Research on Information Communication Technology Policy: Trends, Issues and Advancements
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Chapter 426
Information Security Management and Security Reporting
A process that includes activities for the identification, estimation, evaluation, and treatment of risks.
Published in Chapter: Information Security Management and Security Reporting; From: Encyclopedia of Information Science and Technology, Third Edition
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Chapter 7
Enterprise Resource Planning System Risks and Rewards
A system designed to avoid “problems during a project, which can lead to deviation from project goals, timetables, and cost estimations (Zafiropoulos et al., 2005).
Published in Chapter: Enterprise Resource Planning System Risks and Rewards; From: Handbook of Research on Enterprise Systems
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Chapter 2
Natural Disasters and Risk Management: A Theoretical Overview
A set of planned actions - projects and programs, and tools used to reduce disaster risk or mitigate damage.
Published in Chapter: Natural Disasters and Risk Management: A Theoretical Overview; From: Prevention and Management of Soil Erosion and Torrential Floods
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Chapter 15
Knowledge Systems and Risk Management: Towards a Risk and Threat Assessment Framework
The process of identifying risk, assessing risk and taking steps to manage risk by reducing risks to an acceptable level (NIST SP 800-37 rev 2, 2018).
Published in Chapter: Knowledge Systems and Risk Management: Towards a Risk and Threat Assessment Framework; From: Current Issues and Trends in Knowledge Management, Discovery, and Transfer
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Chapter 18
Technical Risk Management
A process to identify and quantify sources of technical risks and their program impacts and find ways to avoid or control them. (Babcock, 2007, p. 217)
Published in Chapter: Technical Risk Management; From: Handbook of Research on Technology Project Management, Planning, and Operations
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Chapter 4
Intentional Food Contamination in the Food Supply Chain: Proposal of a Management System for its Prevention
Is the identification, analysis, assessment, control, and avoidance, minimization, or elimination of unacceptable risks. An organization may use risk assumption, risk avoidance, risk retention, risk transfer, or any other strategy (or combination of strategies) in proper management of future events.
Published in Chapter: Intentional Food Contamination in the Food Supply Chain: Proposal of a Management System for its Prevention; From: Handbook of Research on Military, Aeronautical, and Maritime Logistics and Operations
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Chapter 41
Artificial Intelligence and Investing
The process of managing the uncertainty in investment decision-making.
Published in Chapter: Artificial Intelligence and Investing; From: Encyclopedia of Information Science and Technology, Second Edition
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Chapter 308
GIS and Remote Sensing in Environmental Risk Assessment and Management
The responding practices to better mitigate hazards or recover from any associated adversary impact. Typically, effective risk management includes pre-disaster mitigation planning by means of insurance, land use regulation, and technology; rapid and effective emergency responses during the emergency; post-disaster recovery and rebuilding management; and increased public awareness education.
Published in Chapter: GIS and Remote Sensing in Environmental Risk Assessment and Management; From: Encyclopedia of Information Science and Technology, Third Edition
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Chapter 8
The Operational Risk Assessments in Manufacturing Industry
Risk management is a managerial process that includes identification, analysis, assessment and control of risks which are exposed.
Published in Chapter: The Operational Risk Assessments in Manufacturing Industry; From: Handbook of Research on Global Enterprise Operations and Opportunities
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Chapter 1
A Framework for Risk Management in AI System Development Projects
Process of identifying and assessing risks in order to develop strategies to manage risks.
Published in Chapter: A Framework for Risk Management in AI System Development Projects; From: Forecasting and Managing Risk in the Health and Safety Sectors
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Chapter 13
Security of Infrastructure Systems: Infrastructure Security Assessment
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Chapter 5
Risk Management for Traditional and Innovative Contracts
The act of handling the risk exposure through mitigation, acceptance, sharing and avoidance. It includes the ability to handle information and technology risks based on stakeholders’ risk parameters.
Published in Chapter: Risk Management for Traditional and Innovative Contracts; From: Innovative and Agile Contracting for Digital Transformation and Industry 4.0
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Chapter 83
Threat and Risk Assessment Using Continuous Logic
Identify, evaluate, and assign priority to the potential risks with the goal of defining the methods, resources to minimize or mitigate the outcomes from the risk. Closely related with Risk Assessment.
Published in Chapter: Threat and Risk Assessment Using Continuous Logic; From: Encyclopedia of Organizational Knowledge, Administration, and Technology
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Chapter 2
Methodology for Cyber Security Risk Mitigation in Next Generation SCADA Systems
The processes to manage information security risk to organizational functionality and assets, individuals, other organizations, etc. Risk management includes risk analysis, assessing risk, risk strategy choosing, security measurements implementation and monitoring risk over time.
Published in Chapter: Methodology for Cyber Security Risk Mitigation in Next Generation SCADA Systems; From: Cyber Security of Industrial Control Systems in the Future Internet Environment
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Chapter 6
Supply Chain Logistics Risk Mitigation: Impact of the COVID-19 Pandemic
The act of detecting, evaluating, and managing threats to a firm's capital and profitability.
Published in Chapter: Supply Chain Logistics Risk Mitigation: Impact of the COVID-19 Pandemic; From: Global Risk and Contingency Management Research in Times of Crisis
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Chapter 5
Future of Jobs and Humans in a Tech-Centric World
It refers to the set of processes through which a company identifies, analyzes, quantifies, eliminates, and monitors the risks associated with a given production process.
Published in Chapter: Future of Jobs and Humans in a Tech-Centric World; From: Forecasting and Managing Risk in the Health and Safety Sectors
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Chapter 5
Autonomous Integrated Business Planning
Risk management is the process of doing what-if scenarios to enable risk mitigation strategies so as to minimize the impact of unfortunate events.
Published in Chapter: Autonomous Integrated Business Planning; From: Digital Supply Chain, Disruptive Environments, and the Impact on Retailers
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Chapter 31
Decision Support Software
Decisions to accept exposure or to reduce vulnerabilities by either mitigating the risks or applying cost effective controls.
Published in Chapter: Decision Support Software; From: Encyclopedia of Information Technology Curriculum Integration
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Chapter 99
Web-Based Information Systems in Construction Industry: A Case Study for Healthcare Projects
A form of decision-making technique that involves identification and assessment of possible risk events, then generating a response plan to reduce and/or control these risks to an acceptable level.
Published in Chapter: Web-Based Information Systems in Construction Industry: A Case Study for Healthcare Projects; From: Encyclopedia of Internet Technologies and Applications
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Chapter 2
HRIS Readiness Among Faculties in B Schools for Human Development
The process by which a company evaluates and reduces its risk exposure. This includes actions, policies, and procedures that management implements to reduce the likelihood and severity of adverse outcomes and to increase the likelihood and benefits of positive outcome.
Published in Chapter: HRIS Readiness Among Faculties in B Schools for Human Development; From: Ubiquitous Technologies for Human Development and Knowledge Management
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Chapter 10
Review of Big Data Applications in Finance and Economics
It involves prediction of bankruptcy of a firm (i.e., credit risk), detection of fraud (i.e., operational risk), or prediction of future stock returns (i.e., market risk).
Published in Chapter: Review of Big Data Applications in Finance and Economics; From: Handbook of Research on Engineering, Business, and Healthcare Applications of Data Science and Analytics
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Chapter 17
Knowledge Sharing and IT/Business Partnership: An Integrated View of Risk Management
Risk management is a process of simplifying the decision problem aiming at reforming it in certain way that allows excluding the risk.
Published in Chapter: Knowledge Sharing and IT/Business Partnership: An Integrated View of Risk Management; From: Handbook of Research on Effective Project Management through the Integration of Knowledge and Innovation
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Chapter 9
Dynamic Risk Assessment in IT Environments: A Decision Guide
A general process to handle risks as it serves to identify, assess, prioritize, mitigate, and track them.
Published in Chapter: Dynamic Risk Assessment in IT Environments: A Decision Guide; From: Handbook of Research on Information and Cyber Security in the Fourth Industrial Revolution
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Chapter 6
COVID-19 Pandemic: Impacts on Supply Chain Sustainability
It is the process of identifying, assessing, and controlling threats to an organization’s capital and earnings, from a variety of sources including strategic management errors, accidents, and natural disasters.
Published in Chapter: COVID-19 Pandemic: Impacts on Supply Chain Sustainability; From: Handbook of Research on SDGs for Economic Development, Social Development, and Environmental Protection
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Chapter 79
Estimating Risk with Copulas
The concept involves actions aimed at maintaining an adequate profitability (return on investments), solvency margin (assets in excess of liabilities), increase of the company’s shareholder value, as well as risk reduction (for example by hedging and diversification). The conceptual term ‘risk management’ is to be distinguished from the technical term ‘risk measurement’. For example, in the Value-at-Risk setting, the latter term describes the construction of a portfolio profit and loss distribution and the calculation of certain percentile.
Published in Chapter: Estimating Risk with Copulas; From: Encyclopedia of Business Analytics and Optimization
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Chapter 90
Information Security and Risk Management
An organization’s risk assessment and risk mitigation
Published in Chapter: Information Security and Risk Management; From: Encyclopedia of Multimedia Technology and Networking, Second Edition
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Chapter 66
Managing E-Collaboration Risks in Business Process Outsourcing
The process of evaluating and selecting alternative responses to risk.
Published in Chapter: Managing E-Collaboration Risks in Business Process Outsourcing; From: Encyclopedia of E-Collaboration
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Chapter 15
Internal Audit Structure and Fraud Risk Assessment From a Regulatory Perspective: An Insight Into the Turkish Financial Services Sector
Managing the uncertainty of components in such a way that either they are eliminated or reduced.
Published in Chapter: Internal Audit Structure and Fraud Risk Assessment From a Regulatory Perspective: An Insight Into the Turkish Financial Services Sector; From: Organizational Auditing and Assurance in the Digital Age
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Chapter 18
A Process Architecture Approach to Manage Health Process Reforms
Is the culture, processes and structures that are directed towards realizing potential opportunities whilst managing adverse effects.
Published in Chapter: A Process Architecture Approach to Manage Health Process Reforms; From: Handbook of Research on Advances in Health Informatics and Electronic Healthcare Applications: Global Adoption and Impact of Information Communication Technologies
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Chapter 501
Project-Based Software Risk Management Approaches
The disciple of managing risks using strategies such as planning, assessment, analysis, and control of risks.
Published in Chapter: Project-Based Software Risk Management Approaches; From: Encyclopedia of Information Science and Technology, Second Edition
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Chapter 16
Risk and Governance Considerations in Cloud Era
The act of handling the risk exposure through mitigation, acceptance, sharing and avoidance. It includes the ability to handle information and technology risks based on stakeholders’ risk parameters.
Published in Chapter: Risk and Governance Considerations in Cloud Era; From: Handbook of Research on End-to-End Cloud Computing Architecture Design
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Chapter 8
A Knowledge-Based Risk-Driven Model Supporting Collaborative Online Course Creation
A set of activities that are undertaken to recognize risks and to plan for their avoidance, reduction, or removal.
Published in Chapter: A Knowledge-Based Risk-Driven Model Supporting Collaborative Online Course Creation; From: Shifting to Online Learning Through Faculty Collaborative Support
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Chapter 16
Strategic Disaster Management: The Case of Turkey
Includes all measures which reduce disaster related losses of life, property, or assets by either reducing the hazard or vulnerability of the elements at risk.
Published in Chapter: Strategic Disaster Management: The Case of Turkey; From: Handbook of Research on Global Challenges for Improving Public Services and Government Operations
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Chapter 65
IT-Enabled Reengineering: Productivity Impacts
Refers to a continuous process of identifying, assessing, and reducing a risk factor to an acceptable level, and implementing the right mechanisms to maintain that level of risk. Established risk management strategies include avoiding the risk, reducing the negative effect of the risk, accepting some or all of the consequences of the risk, or transferring the risk to another party through insurance.
Published in Chapter: IT-Enabled Reengineering: Productivity Impacts; From: Encyclopedia of Information Communication Technology
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Chapter 6
Assurance for Change Management With COBIT 2019 and CMMC Maturity Frameworks
A systematic approach to identifying threats and controlling the impact of uncertain events as a consequence of their realization.
Published in Chapter: Assurance for Change Management With COBIT 2019 and CMMC Maturity Frameworks; From: Achieving Organizational Agility, Intelligence, and Resilience Through Information Systems
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Chapter 24
Practical Align Overview of the Main Frameworks Used by the Companies to Prevent Cyber Incidents
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Chapter 4
Transparency and Integrity Methods for Public Utilities Systems
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Chapter 12
Proactive Information Security Strategy for a Secure Business Environment
The implementation and updating of methods and tools to minimize risks associated with the information system of an organization, such as the Information Security policies, procedures and practices associated formalized and adopted other means in order to bring these risks to acceptable levels.
Published in Chapter: Proactive Information Security Strategy for a Secure Business Environment; From: Managerial Perspectives on Intelligent Big Data Analytics
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Chapter 18
A Process Architecture Approach to Manage Health Process Reforms
Is the culture, processes and structures that are directed towards realizing potential opportunities whilst managing adverse effects.
Published in Chapter: A Process Architecture Approach to Manage Health Process Reforms; From: Handbook of Research on Advances in Health Informatics and Electronic Healthcare Applications: Global Adoption and Impact of Information Communication Technologies
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Chapter 70
Concept and Practices of Cyber Supply Chain in Manufacturing Context
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Chapter 44
Assessing ERP Risks and Rewards
A system designed to avoid “problems during a project, which can lead to deviation from project goals, timetables, and cost estimations” ( Zafiropoulos et al., 2005 , p. 213).
Published in Chapter: Assessing ERP Risks and Rewards; From: Encyclopedia of Information Science and Technology, Second Edition
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Chapter 1
From Information Governance to IT Governance: An Overview of Issues and Frameworks for Large Organizations
The main focus on the risk control of the enterprise, transparency about the significant risks.
Published in Chapter: From Information Governance to IT Governance: An Overview of Issues and Frameworks for Large Organizations; From: Strategic IT Governance and Performance Frameworks in Large Organizations
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Chapter 114
Financial Analytics With Big Data
The process of identifying, assessing, and controlling threats of unfortunate events to an organization's capital and earnings.
Published in Chapter: Financial Analytics With Big Data; From: Encyclopedia of Data Science and Machine Learning
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Chapter 5
Industry Process Safety: Major Accident Risk Assessment
An overall risk management process involving both risk assessment and risk reduction through technical and organizational barriers.
Published in Chapter: Industry Process Safety: Major Accident Risk Assessment; From: Safety and Security Issues in Technical Infrastructures
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Chapter 60
Knowledge Management and Risk Management
The overall process that a financial institution follows to define a business strategy to identify the risks to which it is exposed, to quantify those risks and to understand and control the nature of the risks it faces. (Cumming & Hirtle, 2001) A specific application of knowledge in order to control deviations from strategic objectives, shareholders’ values and stakeholders’ relationships.
Published in Chapter: Knowledge Management and Risk Management; From: Encyclopedia of Knowledge Management, Second Edition
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Chapter 5
The Reasons Leading Businesses to Concordat and Solution Suggestions
It is expressed as a process consisting of pre-defining, evaluating, managing and controlling possible events and situations in order to provide reasonable assurance for the organization to achieve its objectives.
Published in Chapter: The Reasons Leading Businesses to Concordat and Solution Suggestions; From: Bankruptcy and Reorganization in the Digital Business Era
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Chapter 1
Are Risks in IT Global and Local Projects the Same?: Systematic Literature Review of the Last 20 Years
Process of identifying, analyzing, defining strategies to deal with the more concerning risks, which can be threats or opportunities to project objectives. In the process, it is included the control of the risks throughout the life cycle of the project.
Published in Chapter: Are Risks in IT Global and Local Projects the Same?: Systematic Literature Review of the Last 20 Years; From: Novel Theories and Applications of Global Information Resource Management
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Chapter 4
Financial Literacy and Innovation Performance in SMEs: The Mediating Effect of Risk-Taking
Process of identifying, assessing, and controlling the internal and external risks faced by a company.
Published in Chapter: Financial Literacy and Innovation Performance in SMEs: The Mediating Effect of Risk-Taking; From: Financial Management and Risk Analysis Strategies for Business Sustainability
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Chapter 5
Health Communication Strategies: Crisis Management and Infodemic During COVID-19
A process of making and implementing decisions that will minimize the negative effects of a risk.
Published in Chapter: Health Communication Strategies: Crisis Management and Infodemic During COVID-19; From: Handbook of Research on Interdisciplinary Perspectives on the Threats and Impacts of Pandemics
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Chapter 9
The International Experience in Security Risk Analysis Methods
A process conducted by the board of directors, the managers and others within an organization, in order to identify potential events that may affect the organization to manage the risks to the organization and to provide reasonable assurance regarding the achievement of organizational objectives.
Published in Chapter: The International Experience in Security Risk Analysis Methods; From: Network Security and Its Impact on Business Strategy
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Chapter 6
Image Processing and Post-Data Mining Processing for Security in Industrial Applications: Security in Industry
Identification, evaluation, and prioritization of followed by application of resources able to minimize, monitor, and control the probability or impact of unfortunate events and health accidents.
Published in Chapter: Image Processing and Post-Data Mining Processing for Security in Industrial Applications: Security in Industry; From: Handbook of Research on Intelligent Data Processing and Information Security Systems
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Chapter 1
Evolution From IT Governance to Cyber-Agility
The process of identifying, assessing, and controlling threats to an organization's capital and earnings, including IT-related risks.
Published in Chapter: Evolution From IT Governance to Cyber-Agility; From: Navigating IT Governance for Resilient Organizations
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Chapter 18
Dynamics of Sustainable Supply Chain Management in the Post-COVID-19 Era: A Bibliometric Literature Review
Risk management is the systematic identification and evaluation of risks at every level with a certain method to achieve the objectives of the organisations, monitoring this process in a way that ensures effective operation.
Published in Chapter: Dynamics of Sustainable Supply Chain Management in the Post-COVID-19 Era: A Bibliometric Literature Review; From: Handbook of Research on Changing Dynamics in Responsible and Sustainable Business in the Post-COVID-19 Era
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Chapter 9
Analysis of Possible Future Global Scenarios in the Field of Cyber Warfare: National Cyber Defense and Cyber Attack Capabilities
Risk management is the identification, assessment, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities.
Published in Chapter: Analysis of Possible Future Global Scenarios in the Field of Cyber Warfare: National Cyber Defense and Cyber Attack Capabilities; From: Handbook of Research on Civil Society and National Security in the Era of Cyber Warfare
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Chapter 6
Turning Weakness into Strength: How to Learn From an IT Security Incident
Risk management covers the implementation of information security in practice. Risk management is how information security is performed in modern organizations through the analysis and evaluation of vulnerabilities against threats to determine risk and the mitigation of that risk based on organizational priorities ( Fenz et al., 2011 ; Schuesster, 2013 ; Tohidi, 2011 ). This is primarily a preventive framework designed to prevent information security incidents from occurring in secure networks.
Published in Chapter: Turning Weakness into Strength: How to Learn From an IT Security Incident; From: Handbook of Research on Individualism and Identity in the Globalized Digital Age
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Chapter 8
Importance of Risk Management and Risk Management Process
Consists of risk identification, risk assessment, selection and application of risk management strategies, and evaluation and reporting of the process.
Published in Chapter: Importance of Risk Management and Risk Management Process; From: Maintaining Financial Stability in Times of Risk and Uncertainty
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Chapter 1
Applying Artificial Intelligence to Financial Investing
The process of managing the uncertainty in investment decision-making.
Published in Chapter: Applying Artificial Intelligence to Financial Investing; From: Advanced Methodologies and Technologies in Business Operations and Management
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Chapter 34
Governance of Knowledge Management
A tactic to minimize the susceptibility of the KM strategy to risk and subsequent failure or ineffectiveness. Risk must be analyzed to assess the potential exposure to the chance of human or infrastructural barriers. Example of these risks may include: (1) management culture in the organization that hinders KM, (2) the philosophy of KM is not understood in the organization and (3) conflicts of organizational priorities (4) the development of criterion for knowledge collection is clouded. Risk may also threaten operational or to financial elements of the strategy. Examples of risks to processes may include: (a) an understanding of the knowledge types and artefacts associated with specific business functions (b) current informal organic knowledge transfer strategies and systems (c) risks associated with system development (d) managing the changes and their implementation and additionally managing the expectations if staff and of executive management.
Published in Chapter: Governance of Knowledge Management; From: Encyclopedia of Knowledge Management, Second Edition
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Chapter 1
Applying Artificial Intelligence to Financial Investing
The process of managing the uncertainty in investment decision-making.
Published in Chapter: Applying Artificial Intelligence to Financial Investing; From: Encyclopedia of Information Science and Technology, Fourth Edition
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Chapter 2
National Security Policy and Strategy and Cyber Security Risks
The process of identifying, analysing, assessing, and communicating risk and accepting, avoiding, transferring or controlling it to an acceptable level considering associated costs and benefits of any actions taken.
Published in Chapter: National Security Policy and Strategy and Cyber Security Risks; From: Handbook of Research on Civil Society and National Security in the Era of Cyber Warfare
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Chapter 7
Enterprise Information System Security: A Life-Cycle Approach
This includes the process of assigning priority to, budgeting, implementing and maintaining the appropriate risk-reducing measures.
Published in Chapter: Enterprise Information System Security: A Life-Cycle Approach; From: Handbook of Research on Social and Organizational Liabilities in Information Security
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Chapter 188
Robust Supply Chain Risk Management
Is the identification, assessment, and prioritization of risks (as the effect of uncertainty on objectives, whether positive or negative) followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities.
Published in Chapter: Robust Supply Chain Risk Management; From: Encyclopedia of Business Analytics and Optimization
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Chapter 12
Financial Innovations: Intelligent Automation in Finance and Insurance Sectors
The identification, assessment, and prioritization of risks followed by coordinated efforts to minimize, monitor, and control the probability or impact of unfortunate events in financial operations.
Published in Chapter: Financial Innovations: Intelligent Automation in Finance and Insurance Sectors; From: Hyperautomation in Business and Society
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Chapter 6
Advancing Sustainable Development Goals (SDGs) Through Public-Private Partnerships (PPPs)
Identifies, assesses, & mitigates potential risks (financial, operational, legal, environmental) to ensure project success.
Published in Chapter: Advancing Sustainable Development Goals (SDGs) Through Public-Private Partnerships (PPPs); From: Harmonizing Global Efforts in Meeting Sustainable Development Goals
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Chapter 24
Default Probability Prediction of Credit Applicants Using a New Fuzzy KNN Method with Optimal Weights
Identifying, investigating, valuating, controlling, avoiding, minimizing, or eliminating offensive risks.
Published in Chapter: Default Probability Prediction of Credit Applicants Using a New Fuzzy KNN Method with Optimal Weights; From: Handbook of Research on Organizational Transformations through Big Data Analytics
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Chapter 7
How Can a Cybersecurity Student Become a Cybersecurity Professional and Succeed in a Cybersecurity Career?
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Chapter 9
Artificial Intelligence and Investing
The process of managing the uncertainty in investment decision-making.
Published in Chapter: Artificial Intelligence and Investing; From: Encyclopedia of Information Science and Technology, Third Edition
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Chapter 15
Big Data Analytics in Retail Supply Chain
A process of forecasting and evaluation of financial risks together with the identification of procedures to avoid or minimize their impact.
Published in Chapter: Big Data Analytics in Retail Supply Chain; From: Handbook of Research on Strategic Supply Chain Management in the Retail Industry
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Chapter 25
IT Governance in the Public Sector in a Developing Country
Is one of the IT governance focus areas that require risk awareness by senior corporate officers, a clear understanding of the enterprise’s appetite for risk, understanding of compliance requirements, transparency about the significant risks to the enterprise, and embedding of risk management responsibilities in the organization.
Published in Chapter: IT Governance in the Public Sector in a Developing Country; From: Handbook of Research on ICT-Enabled Transformational Government: A Global Perspective
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Chapter 11
Sustainable Value Chains: A Critical Analysis of Sustainable Supply Chain Failures in Developing and Developed Economies
This refers to the identification, analysis, acceptance, and management of risk in order to reduce any adverse effect from a decision or venture.
Published in Chapter: Sustainable Value Chains: A Critical Analysis of Sustainable Supply Chain Failures in Developing and Developed Economies; From: Green Marketing as a Positive Driver Toward Business Sustainability
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Chapter 505
Management and Cost Estimation of Security Projects
is a methodical approach that aims to control risk through developing systems and procedures allowing managers to anticipate, identify, estimate and effectively dealing with risks inherent to any project.
Published in Chapter: Management and Cost Estimation of Security Projects; From: Encyclopedia of Information Science and Technology, Third Edition
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Chapter 12
Transforming the Travel Landscape: Smart Contracts in Tourism Management
The identification, assessment, and mitigation of potential risks in travel services, improved by smart contracts automating insurance processes.
Published in Chapter: Transforming the Travel Landscape: Smart Contracts in Tourism Management; From: Decentralizing the Online Experience With Web3 Technologies
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Chapter 39
Exploring the Risks That Affect Community College Decision Makers
Risk management identifies, assesses, treats, and monitors risks during the entire life cycle, responding to each risk in terms of appropriate treatment and acceptance (ISO/IEC 15288, an industry standard).
Published in Chapter: Exploring the Risks That Affect Community College Decision Makers; From: Encyclopedia of Decision Making and Decision Support Technologies
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Chapter 7
Imperatives of Risk Analysis and Asset Management on Cyber Security in a Technology-Driven Economy
Risk management is the process of identifying, assessing, and controlling financial, legal, strategic, and security risks to an organization's capital and earnings.
Published in Chapter: Imperatives of Risk Analysis and Asset Management on Cyber Security in a Technology-Driven Economy; From: Effective Cybersecurity Operations for Enterprise-Wide Systems
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Chapter 7
Enterprise Risk Management and Bankruptcy
It is the discipline to live with the possibility of future events having adverse effects.
Published in Chapter: Enterprise Risk Management and Bankruptcy; From: Bankruptcy and Reorganization in the Digital Business Era
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Chapter 13
A Fuzzy Group Decision-Making Approach to Construction Project Risk Management
Risk management is the identification, assessment, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities. Risk management’s objective is to assure uncertainty does not deflect the endeavor from the business goals.
Published in Chapter: A Fuzzy Group Decision-Making Approach to Construction Project Risk Management; From: Handbook of Research on Leveraging Risk and Uncertainties for Effective Project Management
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Chapter 4
E-Government and Digital Transformation: A Conceptual Framework for Risk Factors Identification
An iterative process including the steps of risk identification and analysis, risk assessment and prioritization, risk treatment, risk monitoring and control, and risk capitalization and documentation.
Published in Chapter: E-Government and Digital Transformation: A Conceptual Framework for Risk Factors Identification; From: Disruptive Technology and Digital Transformation for Business and Government
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Chapter 15
Business Continuity of Critical Infrastructures for Safety and Security Incidents
An ongoing process of activities aimed towards safeguarding an organization from uncertainties which can negatively impact its objectives
Published in Chapter: Business Continuity of Critical Infrastructures for Safety and Security Incidents; From: Safety and Security Issues in Technical Infrastructures
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Chapter 9
Cybersecurity Risk: Assessment and Management
It entails assessing risks and vulnerabilities, as well as taking administrative and thorough measures to ensure that a business is effectively secured. Traditional risk management principles are applied to digital systems and infrastructure in cybersecurity risk management.
Published in Chapter: Cybersecurity Risk: Assessment and Management; From: Global Risk and Contingency Management Research in Times of Crisis
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Chapter 12
The Effect of Innovative Contracts on the Business Behaviors in the Context of IoT
The act of handling the risk exposure through mitigation, acceptance, sharing and avoidance.
Published in Chapter: The Effect of Innovative Contracts on the Business Behaviors in the Context of IoT; From: Innovative and Agile Contracting for Digital Transformation and Industry 4.0
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Chapter 6
Industrial Occupational Safety: Industry 4.0 Upcoming Challenges
The overall process of risk avoidance, mitigation and / or control, encompassing risk assessment, which in turn encompasses risk analysis.
Published in Chapter: Industrial Occupational Safety: Industry 4.0 Upcoming Challenges; From: Safety and Security Issues in Technical Infrastructures
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Chapter 7
Risk Assessment in the Information Technology Industry: An Imperative Phenomenon
The process of assessing and evaluating the various internal and external threats within organisation, so to mitigate them and bring stability within organisations.
Published in Chapter: Risk Assessment in the Information Technology Industry: An Imperative Phenomenon; From: Global Risk and Contingency Management Research in Times of Crisis
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Chapter 1
Does the Industry for Cannabis Provide More Challenges in Its Insurance Provision?: A Case of Global Perspective
Risk management is the process of identifying, assessing and controlling threats to a company’s resources
Published in Chapter: Does the Industry for Cannabis Provide More Challenges in Its Insurance Provision?: A Case of Global Perspective; From: Rapid Innovation and Development in the Global Cannabis Market
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Chapter 26
Telecommunication Investments Analysis: A Multi-Criteria Model
The process of identifying different types of risks, assessing their relative importance for the project, and implementing strategies for managing risk.
Published in Chapter: Telecommunication Investments Analysis: A Multi-Criteria Model; From: Handbook of Research on Telecommunications Planning and Management for Business
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Chapter 8
Health Risk Communication and Media
The process of identifying, assessing, and controlling threats.
Published in Chapter: Health Risk Communication and Media; From: Handbook of Research on Representing Health and Medicine in Modern Media
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Chapter 3
Lean Thinking via Business Intelligence Technologies and Innovation Process
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Chapter 15
Health, Safety, and Security as a Part of Events Management
The process of anticipating, preventing, and minimizing potential costs, losses or problems for the event, organizer, the participants, and the audience.
Published in Chapter: Health, Safety, and Security as a Part of Events Management; From: Handbook of Research on Key Dimensions of Occupational Safety and Health Protection Management
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Chapter 8
Artificial Intelligence Effects on Contracts and Contracting
The act of handling the risk exposure through mitigation, acceptance, sharing and avoidance.
Published in Chapter: Artificial Intelligence Effects on Contracts and Contracting; From: Innovative and Agile Contracting for Digital Transformation and Industry 4.0
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Chapter 2
IT Governance Frameworks and Standards for Resilient Healthcare Organizations
The process of identifying, assessing, and controlling threats to an organization's capital and earnings, including risks related to information security, compliance, and operational continuity.
Published in Chapter: IT Governance Frameworks and Standards for Resilient Healthcare Organizations; From: Navigating IT Governance for Resilient Organizations
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Chapter 25
Information Security Policies
The process of identifying and analyzing and proposing ways of mitigating risks.
Published in Chapter: Information Security Policies; From: Handbook of Research on Information Communication Technology Policy: Trends, Issues and Advancements
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Chapter 3
Inclusive Entrepreneurship for the Micro, Small, and Medium Enterprises: The Economic Perspective
It is usually the financial interpretation that refers to the practice of identifying potential risks in advance, analyse them and take precautionary measures to reduce or to eliminate those possible risks.
Published in Chapter: Inclusive Entrepreneurship for the Micro, Small, and Medium Enterprises: The Economic Perspective; From: Handbook of Research on Entrepreneurship in the Contemporary Knowledge-Based Global Economy
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