EESoft testing services are helping organizations deliver high value business solutions. Our domain and industry-focused testing services ensure that our client's IT applications meet growing business needs with high performance and availability. By partnering with EESoft, our clients leverage our in-depth experience in test methodologies, automation frameworks, tools and processes.
As the global economy recovers from a credit crisis and the worst recession in a generation, businesses and regulators are taking a closer look at risk governance.
Identify your organization’s regulatory requirements and “risk appetite score your risk management maturity.
Today’s business climate is rife with more risk than ever. At the same time, regulatory compliance costs continue to rise rapidly even as the need for capital optimization and preservation grows. Balancing it all requires an integrated approach.
Risk management is simply a practice of systematically selecting cost effective approaches for minimizing the effect of threat realization to the organization. All risks can never be fully avoided or mitigated simply because of financial and practical limitations. Therefore all organizations have to accept some level of residual risks.
Risk management includes the following activities:
Planning how risk will be managed in the particular project. Plans should include risk management tasks, responsibilities, activities and budget.
Maintaining live project risk database. Each risk should have the following attributes: opening date, title, short description, probability and importance. Optionally a risk may have an assigned person responsible for its resolution and a date by which the risk must be resolved.
Creating anonymous risk reporting channel. Each team member should have possibility to report risk that he/she foresees in the project.
Preparing mitigation plans for risks that are chosen to be mitigated. The purpose of the mitigation plan is to describe how this particular risk will be handled what, when, by who and how will it be done to avoid it or minimize consequences if it becomes a liability.
Summarizing planned and faced risks, effectiveness of mitigation activities, and effort spent for the risk management
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