2013 5th International Conference on Computer Science and Information Technology.
IT risk, Risk management plan, Actuarial science, Computer science, Risk analysis (business), Risk factor (computing), Financial risk management, Risk management, business.industry, business, Enterprise risk management, and IT risk management
Risk Management is one of the key cares of any organization strategic management. Referring to all the activities on-going in the organizations, risks are brought in for accomplishing the activities and their targets beneficially in all portfolios. Proper benefit of risk management is finding risks and their solutions. The result from a good risk management would be the maximization of the organization's value, it will also improve the chances of success than failure with risk assessing. Almost all risk reduction activities acquire cost of all probably applicable activities typically far overcomes the resources available. Hence there is the need to cleverly pick from among those activities to achieve at a cost-effective selection. In this paper we will suggest Strategic Risk Reduction (SRR) technique for producing optimal risk reduction strategies; we will reduce risk exposure for expected income by allowing several countermeasures per risk rather than one countermeasure per risk as previous work did.