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Risk Management

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  • Post Date 2018-11-07T13:24:00+00:00
  • Post Category Essays

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Risk Management

Risk Management

INSTRUCTIONS:
*********** WRITER PETER ONLY *********** TASK: You are to consider that you are a Risk Management Consultant employed to produce a proposal on (The development and installation of Telecommunications system into a regional area: you have to consider these points in this report) 1. Opportunities 2. Benefits 3. Obstacles / drawbacks 4. Infrastructures 5. Experience from similar organization failures
CONTENT:
Name:Institution:Course:Tutor:Date:Risk management: A Proposal on the development and installation of Telecommunications system into a regional area.Risk management refers to the identification, assessment and setting up priorities in order to monitor, control and putting in place measures to apply the management of uncertainties. We are usually uncertain of future happenings and hence risk management entails putting into place measures to counteract risks when they occur. For example, in the business environment risks can be attributed to business failures, change in consumer patterns which affect markets, credit risk, legal liabilities, disasters and accidents. They are various strategies that can be adopted to manage risks. Risks can be avoided, transferred to another party, reducing the negative effects of the risks or accepting the liabilities caused by the risks (Thorn, 2001, 67). Every organization should adopt risk management as an integral part of its processes. There are various risks associated with telecommunication systems such as obsolescence, data loss and system failures.OpportunitiesThe future holds numerous opportunities for the telecommunication industry. Ideas in the development of telecommunication systems will produce high technology services in the future. Communication firms and software companies are extensively using these technologies. On the other hand low orbit providers with advanced wireless protocol technology are likely to make extensive use of telecommunication services. It is therefore possible to invest in the industry. Internet and networking is a key tool that relies on telecommunication. Telecommunication opportunities can be realized in software development, networking, development of websites and data management practices (Thorn...

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