HOW TO CONTROL RISKS? TOWARDS A STRUCTURE OF ENTERPRISE RISK MANAGEMENT PROCESS

Lidia Mandru ()
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Lidia Mandru: Transilvania University of Brasov, Faculty of Economic Sciences and Business Administration, lidia.mandru@gmail.com, Brasov, Romania,

Journal of Public Administration, Finance and Law, 2016, vol. 9, issue 9, 80-92

Abstract: In this paper, we try to establish a structure of enterprise risk management process highlighting the steps that a company should follow in order to keep occurring risks under control. The reader will find that risk management process involves five basic stages: setting goals, risk identification, risk evaluation, risk response planning and risk monitoring and control. Risk score matrix� decision tree and Monte Carlo simulation are some methods presented in this paper and used to qualitatively and quantitatively analyze risks. For the main categories of risks, we bring in some preventive measures that companies may apply to face risks preserving their competitive advantage on market.

Keywords: risk evaluation; risk monitoring and control; risk prevention; risk score matrix; Monte Carlo simulation, (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:aic:jopafl:y:2016:v:9:p:80-92

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