Risk Management in the Business of the Manufacturer

Abstract

This research paper will start by presenting background information to risk management in the manufacturing sector followed by review of the literature for state of the art knowledge in this subject area. An algorithm for generic risk management system will be presented highlighting the various stages from establishing the risk context, assessment, evaluation and managing it. Finally, a risk management framework will be developed showing the sequence for assessing potential risk factors associated with the typical manufacturing process This research paper will start by presenting background information to risk management in the manufacturing sector followed by review of the literature for state of the art knowledge in this subject area. An algorithm for generic risk management system will be presented highlighting the various stages from establishing the risk context, assessment, evaluation and managing it. Finally, a risk management framework will be developed showing the sequence for assessing potential risk factors associated with the typical manufacturing process This research paper will start by presenting background information to risk management in the manufacturing sector followed by review of the literature for state of the art knowledge in this subject area. An algorithm for generic risk management system will be presented highlighting the various stages from establishing the risk context, assessment, evaluation and managing it. Finally, a risk management framework will be developed showing the sequence for assessing potential risk factors associated with the typical manufacturing process This research paper will start by presenting background information to risk management in the manufacturing sector followed by review of the literature for state-of-the-art knowledge in this subject area. An algorithm for generic risk management system will be presented highlighting the various stages from establishing the risk context, assessment, evaluation and managing it. Finally, a risk management framework will be developed showing the sequence for assessing potential risk factors associated with the typical manufacturing process This research paper will start by presenting background information to risk management in the manufacturing sector followed by review of the literature for state of the art knowledge in this subject area. An algorithm for generic risk management system will be presented highlighting the various stages from establishing the risk context, assessment, evaluation and managing it. Finally, a risk management framework will be developed showing the sequence for assessing potential risk factors associated with the typical manufacturing process Project activities are carried out in conditions of uncertainty. Therefore, knowledge of the basics of project risk management necessary in the professional activities of economists, managers and entrepreneurs. At the stage of creating a business in the process of developing a business plan, an entrepreneur needs to evaluate economic efficiency and risks of this business project, develop a risk management plan, plan a response to possible risks. When the established enterprise is located at the stage of its further development, then in the process of implementation various projects - to expand business, organizational projects – risk management is also required. In addition, at the stage of decline, when the organization is in crisis, it is necessary to develop projects for the improvement of this enterprise, in the process implementation of which risk management is required. All this emphasizes the relevance of the issues considered in this study guide