Risk Management: An Issue Not to Be Overlooked

Abstract

The purpose of this article is to suggest guidelines for an implementation of risk management in an organization.  Various aspects concerning risk management and organizational management such as definitions of risk, key roles and responsibilities of those involved in risk management, the importance of implementing risk management in public sectors, best practices for risk management, an integration of risk management with corporate strategic management have been studied as suggested guidelines for implementing the risk management in various organizations for measuring their efficiency and effectiveness in management.  An organization whose risk management is measured to be at a high level should be improved in which its weaknesses are required to be identified and a sense of teamwork should be promoted to move the organization into the same direction.