Risk management is all about understanding risks and proactively identify and handle the important risks to achieve business objectives.

Purpose

Risk management is a structured approach to managing uncertainty through risk assessment, developing strategies to manage it, and mitigation of risk using managerial resources.

The strategies include transferring the risk to another party, avoiding the risk, reducing the negative effect of the risk, and accepting some or all of the consequences of a particular risk.

Benefits

Risk management clarifies and ties the strategic goals to the operational goals, thereby strengthening the management’s ability to manage and control.

Risk management is a systematic and continuous activity to:
• Avoid future undesirable events
• Prioritise resources to the key risks
• Proactive approach instead of fire fighting

Features

DNV’s risk management solutions may include some of these services:

Enterprise risk management
• Assessment and improvement of risk management capability
• Risk assessment and management

Project risk management
• Assessment and improvement of risk management capability
• Risk assessment and management (quality, cost and schedule)

IT risk management
• Information security
• Independent software verification and validation
• Software and systems process improvement
• IT service management
• Information modelling