logging in or signing up risk management pranav99 Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: Embed: Flash iPad Dynamic Copy Does not support media & animations Automatically changes to Flash or non-Flash embed WordPress Embed Customize Embed URL: Copy Thumbnail: Copy The presentation is successfully added In Your Favorites. Views: 43621 Category: Business & Fin.. License: All Rights Reserved Like it (11) Dislike it (2) Added: December 01, 2008 This Presentation is Public Favorites: 13 Presentation Description ppt of risk management Comments Posting comment... By: kalpanasenthil (27 month(s) ago) Very nice presentation.. Saving..... Post Reply Close By: johnlaws8 (16 month(s) ago) Quite comprehensive. Saving..... Edit Comment Close By: allenraduana (32 month(s) ago) nice presentation, thank you very much Saving..... Post Reply Close Saving..... Edit Comment Close By: agusedi (37 month(s) ago) Very good Saving..... Post Reply Close Saving..... Edit Comment Close By: devashishkanoo (41 month(s) ago) nice presentation Saving..... Post Reply Close Saving..... Edit Comment Close By: MC_ashu (41 month(s) ago) VERY GOOD PRESENTATION Saving..... Post Reply Close Saving..... Edit Comment Close loading.... See all Premium member Presentation Transcript Risk Management : Risk Management Risk- Uncertainty of occurrence of any unforeseen event Pure Risk- Always leads to loss Speculative Risk- May Result in loss or Gain Static Risk- Results in loss Dynamic Risk- May Result in loss or Gain Commercial Trade Risk Insurable Risk Types of Risks : Types of Risks Material Risk- Building,Plant & Machinery,Furniture,Fixtures,fittings,Stocks. Consequential Risk- Loss of production,Loss of profit,Loss of market,Good will. Social Risk Legal Risk- Product liability,Public liability. Political Risk- Subsidies,Sanctions etc. Slide 3: Risk Management Economic protection of Company’s Assets, Earnings & Liabilities. Risk Management Process Identification of Risk Various Methods Some are Quantitative,Some are Qualitative Slide 4: Check List Flow chart Risk Inspection HAZOP HAZAN Fault Tree Method Hazard Indices Risk Evaluation : Risk Evaluation Arrange them in order of priority Provide information for deciding the most appropriate way of handling. Ranking risks according to : Frequency of loss ; and Potential severity of loss. Risk Analysis : Risk Analysis Risk and Human behavior looks into psychology of risk. How others look at the risk? How they behave in the face of risk? How they behave in groups? Perception of Risk. Slide 7: Risk analysis is to be carried out with proper perception of risk of risk and cost involved in Analysis. Not to stick to one method Understand company and industry Should be financially reasonable Accurate record keeping Amount of imagination of required Risk Reduction / Loss Prevention : Risk Reduction / Loss Prevention Reduce probability of loss and its severity. Most important for RM process. Risk Reduction / Prevention can be from – Loss prevention Safety Fire protection / Detection Environmental protection Slide 9: Risk Retention If, Charge losses against normal operation cost. Contingency fund. Borrow the cost of any loss, repaying over agreed period. Risk Transfer : To insurers – Pure risks Risk Management – Common Sense : Risk Management – Common Sense Disproportionate Emphasis on Risk Finance like Self Insurance Alternatives Non-Insurance option of Retention Assumption of Loss by Numerous Techniques But not much attention on Loss prevention, Safety and Loss control Risk Management : Risk Management On going plan to avoid circumstances and events that can cause loss & Minimize the operational and financial impact of loss, should it occur. Thus it includes loss prevention and loss finance: Slide 12: Thus, Risk Management principals for small and large risks are more or less same. Risk Management : Risk Management It involves Insurance But is more than Insurance It is specified part of financial management but is more than that It may require knowledge of chemical processes, Fundamentals of Fire Engg. Physical properties of Different materials But is more than that Risk Management : Risk Management Requires Statistical Techniques But is more than Loss Statistics Thus RM involves Multi-Disciplinary Approach. Insurance Managers, Fire Engineers, Statisticians and the like are Dealing with many Aspects of Risk But no one takes overall view of Risk. Risk Management : Risk Management Risk Manager should look into overall view of the risk. Co-ordinate with various Line Managers to get the same. Sources of Ignition : Sources of Ignition The main sources of ignition involved in almost all industries are: Smoking Heat of Cutting Spontaneous Oxidation from Grinding Welding Cutting Hot surfaces such as furnaces etc. Electrical sparking Arching Impact ignition Risk Exposure Data – What to Look for ? : Risk Exposure Data – What to Look for ? Layout of the Plant. Interconnectivity of roads/ accessibility. Proximity to Fire Stations/ Police Station/ Hospital. Condition/ location and number of Emergency Exits/ Stairs/ Gates. Earthquake Exposure of the Buildings.(Seismic Zone) Flood/ Inundation Exposure. Landslide/ Rockslide Exposure. Terrorism Exposure. Proximity to Water Bodies – River, Lake, Sea, Drains etc. Internal & External Drainage System. Congestion at the Site. Employee – Employer relations (Industrial Relation) Type of labour employed – young/ mature – skilled/ unskilled.. Condition of Raw/ Process/ Intermediate & Finished Materials stored – Flammable/ Hazardous. Major Changes in the future/ near past. Risk Exposure Data – What to Look for ? : Risk Exposure Data – What to Look for ? Neighboring occupancies & their exposure. History of Natural disasters/ AOG Perils – Flood/ Eq./ Landslide/ Storm etc. General law & order & political situation in the area. Terrorism exposure in the area. Adherence to No Smoking Regulation. Installation of FEAs – their adequacy and placement – their maintenance. General Awareness of the employees and their training regarding FEA appliances installed/ their usage. Presence of Trained full time Safety & Fire Officers & Staff. ISO Certifications SHE policy/Maintenance philosophy Enforcement of work permit system (Hot/ Cold /electrical/at heights etc.) General housekeeping (Orderliness and cleanliness.) Risk Exposure Data – What to Look for ? : Risk Exposure Data – What to Look for ? Management awareness & involvement in safety and security matters. Quantity and quality of security staff.. Regulation of entry and exit of persons, vehicles, trucks & materials. Source of water and quantity of storage facility. Condition of electrical wiring and installations. Condition of machinery, their maintenance, hazards involved with them, presence of qualified personnel to handle them. Condition of electrical equipment, their maintenance and presence of qualified personnel to handle them. Condition of Buildings & their construction. Condition and construction of Boundary Wall. Exposed openings and presence of combustible materials. Quantity of Fire load. Presence of forest/ bushes/ vegetation in the vicinity. You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.