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RISK MANAGEMENT MODEL

The Risk Management Models covers all types of risk that can potentially impact the achievement of strategic objectives, impair company assets, and/or undermine the value of the Brand. RISK MANAGEMENT MODEL is corporate into strategic decisions, and key decision- making processes.

1- Operational Risk: is the prospect of loss resulting from incompetent, or failed procedures, methods, or policies. Employee errors. Systems failures. Fraud or other criminal activity. Any event that disrupts business processes. Operational risk refers to an unforeseen failure in your companys day-to-day operations. It could be a technical defeat, Same a server outage or it could be caused by your people or procedures.

Purpose: operational risk captures business conspicuousness schema, environmental risk crisis management procedure systems, people regarding risks and health and safety, and information technology dangers.

Advantage of Operational risk: Better, more effectual, and more reliable operations; Reduction in losses from damages, threats, illegal activities and exploits; Lower cost of compliance. And Reduction in the time to come potential damages.

Disadvantage of Operational risk: end result due to operational risks may create irrecoverable losses. Sometimes, the losses can also lead to the cancellation of licenses for the responsible employee and/or the organization as a whole. In some cases, operational risk can also stem from episode outside your control, such as a natural disaster, or a power cut, or a problem with your website steward. Anything that heckle your companys core operations comes , beneath the classification of operational risk.