Risk Management Of Acne Corporations Samples †MyAssignmenthelp.com

Question: Discuss about the Risk Management Of Acne Corporations. Answer: It is not possible to categorize all the 100 risks that can come to the Acne Corporations. There are many possibilities of risk that can come in an organization. All the risk that comes in an organization arises from different aspects. The risks that can come are internal as well as external risks. All the risks that an organization faces cannot be detected beforehand. Risks come as the process or service of the organization continues (McNeil, Frey Embrechts, 2015). The possibilities of risks occurrence and the number of risks that are expected to come cannot be predicted accurately as 100 risks because number of risks that the corporation faces cannot be determined before starting the process or services. Acne Corporation is launching a new product in the market. So it can plan all the possibilities of types of risks in the life cycle phases, but accurately what risks can come in Acne Corporation cannot be predicted. Methodology ofProject Management is needed in a company to promote delivery of the quality of products that are needed by the customers and the results of the project which are to be completed within the budget and on time (Kerzner, 2013). The methodology ofproject management gives standard guidelines and methods so that they can ensure the project they are handling are running in a smooth way and project has consistent manner, is well disciplined and also well managed. The methodology mainly recognizes the proper approach to lead the project in an effective way by proper planning and controls all the processes in an efficient way.Project management also can reduce the risk that comes in Acne Corporation (Schwalbe, 2015). Planning with all the problems that can cause risk or damage to project can be mitigated by risk management processes. The future of anything cannot be predicted with certainty. Only a structured of techniques that can manage risks can be included in the risk manage ment structure. The risk management structure can help to mitigate risks in an organization. The likelihood of the completing the project successfully is mainly improved by formal risk management. The risk management reduces the negative consequences of risks that are negative which cannot be avoided in any other way (Cohen, Krishnamoorthy Wright, 2017). Emphasis is specially given to the risk level qualification and the quantification of risk. Risk management in process management is a continuous process. In risk management all the new risks are identified and others risks are monitored. One major input of risk management is the impact analysis from process of change management. In all the life cycle phases of project management, the planning phase mainly mitigates all the risks that are related to the risk management. All the risks management techniques are involved in the planning phase of life cycle process. Before the prototyping, it is not possible to know any of the risks that may come in Acne Corporations. The risks that come in a project include identification of all the risks that are potential and also evaluation of potential impact of risks. The risk can only be predicted but cannot precisely be accurate about the number of risks that the project can face. The plan for risk mitigation is mainly designed to minimize all the impacts of risk events which are negative related to the project. According to the predicted risks, mitigation techniques to eliminate those risks can be included in risk management. So, to know the outcomes and the probabilities of risks that may arise in Acne Corporation, the company has to wait until the prototyping phase. References Kerzner, H. (2013).Project management: a systems approach to planning, scheduling, and controlling. John Wiley Sons. Schwalbe, K. (2015).Information technology project management. Cengage Learning. Cohen, J., Krishnamoorthy, G., Wright, A. (2017). Enterprise risk management and the financial reporting process: The experiences of audit committee members, CFOs, and external auditors.Contemporary Accounting Research,34(2), 1178-1209. McNeil, A. J., Frey, R., Embrechts, P. (2015).Quantitative risk management: Concepts, techniques and tools. Princeton university press.