Meeting 2 Overview
Based on ISO 31000:2009, the risk management process is an important part of risk management because it is the application of the principles and framework of risk management that has been built. The risk management process consists of three main processes, namely context setting, risk assessment, and risk management.
Determining the context of risk management aims to identify and disclose organizational goals, the environment in which the objectives are to be achieved, interested stakeholders, and the diversity of risk criteria. They will help to reveal and assess the nature and complexity of the risk.
The second process is risk assessment, which includes the risk identification stage, which aims to identify risks that may affect the achievement of organizational goals. Based on the identified risks, a risk list can be compiled for later risk measurement to see the level of risk.
The risk measurement process is in the form of risk analysis which aims to analyze the possibility and impact of the identified risks. The measurement results are in the form of risk status which shows the size of the level of risk and a risk map which is a description of the distribution of risk in a map. Another stage in risk assessment is risk evaluation which is intended to compare the results of risk analysis with predetermined risk criteria to be used as the basis for implementing risk management.