What methods should be used for identifying risks Who should

What methods should be used for identifying risks? Who should be involved in identifying risks? What should be considered when identifying risks?

Solution

risk can be defined as the probability of occuring loss in an activity. there are many chance to happens risk in bsusiness process. to identify the risk first we should know what are sourcess of risk for the particular activity. all the sourcess of risk should be identified and analyse them.

usually there would be team existed in organisation with the name of risk team which consists of experts in risk identification. top level management also includes in the team.

there are two types of risks one is the risk which can be avoid, like business risk and other is systematic risk which can not avoid like political risk or inflation risk.

we should focus on unsystematic risks which can be defined and minized in our level.