A methodological approach to risk management in industrial companies
A methodological approach to risk management in industrial companies
Authors
Damyanova Liliya
University of Chemical Technology and Metallurgy, 8 Kl. Ohridski, 1756 Sofia, Bulgaria
Elitsa Tasseva
University of Chemical Technology and Metallurgy, 8 Kl. Ohridski, 1756 Sofia, Bulgaria
Abstract
Risk management is one of the most important aspects of company’s management in a market economy. The anticipation of the potential risks and their approximate estimation, as well as the development of an adequate security program minimizes the potential damage to the company. The article offers a methodological approach to risk management in industrial companies discussing the nature, functions and methods of risk management in the company, presenting a risk management model, developing scales for measuring the likelihood of hazards, consequences and risk level, and proposing an approach based on a method for risk mapping which is applied to the company’s personnel and property, as well as to the environment. Recommendations are made to enable a successful risk management process at the industrial company