Volume 11 - Volume 11
Selecting the Proper Model for Risk Management
Abstract
The sets of activities performed across all organizational levels can include the opportunities, risks,
and uncertainties that may affect goal realization, prompting executives to identify and manage them
at different levels within a risk management framework. Risk management requires steps and measures that can be best taken by following the models and standards developed by different
researchers and institutes based on extensive experiences and studies. However, the review of these
studies and instructions indicated considerable differences and similarities, something which can
cause confusion in the selection of the best risk management model to address current needs and
organizational conditions. With a thorough review of literature, this paper analyzes the studies,
models, and standards of risk management and highlights their differences in definitions and
processes. Finally, a solution is offered to select the right model which can properly satisfy the
current needs for risk management.
Paper Details
PaperID: 2102
Author's Name: Navid Jamshidnejad
Volume: Volume 11
Issues: Volume 11
Keywords: Risk, Uncertainty, Project Risk Management, Portfolio Risk Management, Organizational Risk Management.
Year: 2021
Month: May
Pages: 210-224