risk and risk management concept

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    RISK CONCEPT

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    The W rld

    Becomesa

    Riskier Place

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    Definition of risk Arthur Williams dan M.H Richard

    A variation of outcomes that can be happen during specified period

    Abbas Salim

    Uncertainty that probable produces loss

    Herman Darmawi

    The probability of outcome different with expected result

    James S. Trieschmann et al

    Uncertainty concerning loss

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    Uncertainty event at futurethat not only influence the

    income of a business entitybut also can determine the

    alive or die it entity

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    Risk Characteristics

    Uncertainty

    Concerning loss

    For specific talk :

    Has the meaning problems andopportunities

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    Forming of risk

    Loss of Assets ; eq fire, robbery, etc

    A human suffering ; eq accident anddeath

    Third party liability

    Loss as the resulted of economiccondition, change of consumerspreference, and etc

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    Some of cause that

    increasing theuncertainty

    Time gap of planning andexecution

    Lack of Information

    Lack of Skill

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    UncertaintyClassification

    Economicuncertainty

    Nature uncertainty Human uncertainty

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    Risk Classification

    Pure risk pure concerning loss

    [eq: fire, disaster, robbery]

    Speculative risk concerning profit orloss

    [eq: gambling, investment decision]

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    Risk Classification (2)

    Systemic Risk /Fundamental risk

    consequences to many

    [eq: disaster]

    Unsystemic risk / Particular risk

    consequences to some people/party[eq: fire]

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    Risk Classification (3)

    Static Riskstable equilibirium

    [eq: death, old day] Dynamic Risk changed by technology

    advance, sociology, and another reasons

    [eq: computer tech]

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    Risk Classification (4)

    Transferablerisk

    transfer toinsurance company

    [eq: pure risk]

    Untransferable riskcan not betrasfered to insurance company

    [eq: speculative risk]

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    Risk Classification (5)

    Internalrisk

    coming from insideof corporation

    External riskcoming fromoutside corporation

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    Risk Classification (6)

    Financialrisk (unphysical)

    coming from financial transaction

    Operational risk (physical) coming from operational events

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    Important Terminologies Peril , events or incidents that concerning loss (directly)

    [eq: fire, robbery, accident]

    Hazard, conditions that enlarge the probability of perilType ofhazard ..

    Exposure, the object that probable hitted by peril

    Probality , the possibility ofevent that concerning loss

    The law of the large numbers, bigger exposuremakes more accurate result

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    Type of Hazard

    Physical Hazard[eq: slippery road, blind turning,..]

    Moral Hazard

    [eq: forgetfull, careless, .]

    Legal Hazard,

    [eq: workers not use the safetyequipment , ]

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    RiskManagement

    The implementation of managementfunctions in risk taking that faced byorganization/company, family,

    individual and society

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    Risk Management Process

    Identify Risk Evaluate Risk (measure and judge)

    Select risk management techniques

    Implement and review decisions

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    The contribution of riskmanagement for...

    Individual / risk manager Company/corporation/institution

    Family

    Society

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    FINISH

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    Tugas Kelompok(Tugas Mingguan II)

    Tentukan ketua kelompok Kelompok Cari Nama (nama paling hebat akan

    diberikan nilai tertinggi)

    Berikan alasan logis penamaan kelompok tersebut

    Menjawab 3 pertanyaan yang diberikan (cari

    perusahaan yang MR baik, kemukakan alasan, 5macam risiko, cara penanggulangan)

    Menyerahkan tugas kelompok dalam bentuk doublefolio/ketikan