Executive Summary / Abstract
Risk management is an integral part of the management of an organization. A management plans, organizes, directs and controls to achieve stated objectives. Planning is associated with uncertainty as it is done for future events. Risk management tries to understand uncertainties associated with an event or action. It assists management in achieving objectives of the organization by acting on the causes of deviation. It tries to mitigate adverse effects that can cause losses by identifying, analysing, evaluating and managing the risk. Risk management is a dynamic and continous process. Its success depends on the risk culture prevalent in the ...