Difference between revisions of "Risk Analysis"
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== Definition == | == Definition == | ||
− | '''Risk Analysis''' (also ''Risk Assessment'') is a set of analytic and/or quantitative activities that supports [[Risk Management]] that may or may not be dependent on risk models, but typically does involve structured analysis and interpretation of data. Overall process of | + | '''Risk Analysis''' (also ''Risk Assessment'') is a set of analytic and/or quantitative activities that supports [[Risk Management]] that may or may not be dependent on risk models, but typically does involve structured analysis and interpretation of data. Overall process of [[Risk Identification]], risk analysis, and risk evaluation. |
− | + | It denotes the process of identifying the risks to an organization, assessing the critical functions necessary for an organization to continue business operations, defining the controls in place to reduce organization exposure and evaluating the cost for such controls. Frequently the quantification of threats to an organization and the probability of them being realized. | |
== Application Domains == | == Application Domains == | ||
− | The notion encompasses large number of activities within banks, for example: | + | The notion encompasses a large number of activities within organisations (and in particular such as banks and insurance companies where the management of risk has dominant role), for example: |
* [[Credit Risk]] Analysis | * [[Credit Risk]] Analysis | ||
* [[Operational Risk]] Self-Assessment Workshops | * [[Operational Risk]] Self-Assessment Workshops |
Revision as of 13:55, 13 February 2023
Definition
Risk Analysis (also Risk Assessment) is a set of analytic and/or quantitative activities that supports Risk Management that may or may not be dependent on risk models, but typically does involve structured analysis and interpretation of data. Overall process of Risk Identification, risk analysis, and risk evaluation.
It denotes the process of identifying the risks to an organization, assessing the critical functions necessary for an organization to continue business operations, defining the controls in place to reduce organization exposure and evaluating the cost for such controls. Frequently the quantification of threats to an organization and the probability of them being realized.
Application Domains
The notion encompasses a large number of activities within organisations (and in particular such as banks and insurance companies where the management of risk has dominant role), for example:
- Credit Risk Analysis
- Operational Risk Self-Assessment Workshops
- Material Risk Assessment Exercises
- Political Risk Analysis
- Business Impact Analysis
- Disaster Risk Assessment