In cases of different kinds of risk factors for more effective risk reduction throughout the course of the conventional methods, which affect certain types of activities.
Basically, risk management techniques, which are used in business activities are divided into four groups of methods.
- risk aversion;
- localization of risks;
- risk diversification;
- risk compensation.
Now we have a closer look at risk management techniques as a way to avoid the risk.
way to avoid the risk of the most used in economic practice.
The methods of risk aversion is:
- refusal of partners who are not credible;
- the rejection of projects that are very risky;
- the main way to reduce the risk - insurance;
- the process of finding guarantors.
Risk management methods include methods for the localization of the risk, they are used very rarely, only in cases when it is possible to clearly identify the sources of risks and the likelihood of their occurrence.The main methods of localization usually are - the creation of subsidiaries, and special units to carry out projects with a clear risk.
meaning of methods of risk diversification is based on the distribution of overall risk:
- expanding the range of products or services;
- marketing and diversification of supply;
risk payment methods are used to create special mechanisms to prevent danger.They are the most time-consuming
and require primarily analytical work: strategic planning, planning the external environment, as well as the creation of reserves.
Evaluating the effectiveness of risk management.
For example, the project is fully completed and is already reporting on this project is formed.But the question is how to calculate the benefit in cash, including a temporary expression of the implementation of the planned measures, which are aimed at risk management?Evaluating the effectiveness of risk is calculated by using three formulas, which in turn allow for the processing of costs risks.
First we have to calculate the predicted effect, which is calculated as the difference in treatment before and after - the amount planned losses from identified risks.
Calculate the cost of managing risks with such a calculation - the sum of the costs of processing the identified and unidentified risks.
And of course the value of the effect of risk management is the difference between the predicted and actual effect of the costs of risk management.
Such risk management techniques as insurance, significantly increases the responsibility of managers, while forcing them to more serious and responsible attitude to the decision-making process as much as possible to carry out protective measures which correspond to the insurance kontraktu.Imenno so insurance as a risk management method is very effectivefinancial instrument.
in case of creation of new products have problems in the use of insurance, due to the fact that insurance companies do not have the statistics and therefore are afraid to insure the technology that they are known e.
The result is that, in any particular case it is very important to know whether this factor to be the object of insurance.From this it should be understood that the insurance risk always has its own peculiarities.First of all you need to know that fear is not a risk, namely the interests of the insured, the possibility of repayment of losses.
As such, the risk should not be withheld, meaning that the investor is not obliged to take the risk, for example, if the amount of the loss is quite large compared to the savings in the amount of the premium.In a situation where there is only one solution, it is necessary to surely first try to find other solutions.It is likely that they exist.In the case of the insurance risk, when a preliminary analysis indicates the absence of other solutions, the plan according to the rule "expecting the worst", it means that you need to take a negative decision.
