Algorithm

Purpose of Program Planning A programmer cannot write the instructions to be followed by a computer unless the programmer knows how to solve the problem manually. To ensure that the program instructions are appropriate for the problem and in the correct sequence. Algorithm•The term algorithm is often used to refer to the logic of a program.•It is a step  by step description of how to arrive...

Evaluation of a Risk Management Plan

A risk management plan can never be perfect. However, the degree of its success depends upon risk analysis, management policies, planning and activities. A well-defined management plan can be successful only if risks are properly accessed. And if not, the main objective of risk management plan itself is defeated. Critical evaluation of a risk management plan at every stage is very necessary especially...

How to create a Risk Management Plan?

Any project immaterial of the size of the same carries a lot of risks, which may be financial, non-financial, legal or physical. Having an effective risk management plan is first and foremost to the success of any project. The task is to anticipate these risks well in advance before the project takes off.A good risk management plan carries number of tools and strategies to mitigate risk. The strategy...

Various Aspects of Risk Management

What does risk management mean? Is it just identification, assessment and planning and controlling social, economic or physical threat to the organization? Is the concept only about transferring the risk or reduce its negative effects?Well, the answers for the above questions is “no”. The process of risk management is not only restricted to controlling the threats or reducing their negative effects....

Risk Identification and Assessment - HR Issues

The organizational game is changing fast these days. The HR manager today acts as an associate with line management to crack important business issues. We therefore, have the emergence of Business HR function these days.One of the most common factors in all organizations these days is the change. This change brings with it – risk. It is therefore imperative on the part of human resource managers...

Risk Management Process

There are several bodies that lay down the principles and guidelines for the process of risk management. The steps involved remain the same more or less. There are small variations involved in the cycle in different kinds of risk.The risks involved, for example, in project management are different in comparison to the risks involved finance. This accounts for certain changes in the entire risk management...

Principles of Risk Management

Various organizations have laid down principles for risk management. There are risk management principles by International standardization Organization and by Project Management Body of Knowledge.The Project management body of knowledge (PMBOK) has laid down 12 principles. This article carries an amalgamation of both PMBOK and ISO principles. The various principles are: 1.    ...

Risk Management - A Basic Understanding

Literally speaking, risk management is the process of minimizing or mitigating the risk. It starts with the identification and evaluation of risk followed by optimal use of resources to monitor and minimize the same.Risk generally results from uncertainty. In organizations this risk can come...