Impact of risk in the organization: The need for measuring and managing it

Abstract

After the 2008 events that occurred in world financial markets, all organizations have increased  interest 
in risk management. It is very clear that risk management brings benefits to the organization. By taking 
a proactive 
approach to 
risk 
and risk 
management, 
to improve performance and results in these three areas: 
organizations will be 
able 
to manage 
Operations performance of the organization will become more efficient if the events that can 
cause obstructions in 
advance will be 
identified 
and 
managed. 
In this way, 
they 
be 
prevented or minimized by the actions taken to reduce the possibility of  anexpected events. These actions 
will help to reduce the damage and costs caused  by  these events, which can cause obstructions in the normal 
development and manufacturing operations. 
can  
Processes developed in the organization will be more effective if taken into consideration prior selection of 
processes and risks involved in options that may be available. In this way the changes in processes related to 
projects that are already  submitted will be more reliable and more efficient.  
Finally, the chosen strategy of the organization will be more effective if risks  associate with various 
strategic options will be fully analyzed and will reach the  best decisions   
possible. Efficiency refers to the 
fact that the chosen strategy to be implemented will be fully capable of delivering the required results.  
As a consequence it is no longer acceptable for organizations to find themselves “catched” in a position 
where unexpected events cause financial loss, reputational damage and loss of presence in the markets. In this 
contxt iterested parties now expect from organizations to take full responsibility for the risks that may 
cause difficulties in the process of operations, delay in the realization of the project or failure to 
present alternative strategies.