Risk Management Research Proposal Example | Topics and Well Written Essays - 3500 words

Risk Management - Research Proposal Example There are several processes that are involved in corporate governance. These are monitoring and evaluation, strategic planning and others. One of the most important facets of corporate governance is risk management. It is important to note that organizations today operate within an environment that is wrought with risks and other hurdles that have to be overcome if the organisation is to succeed. The risks that the organisation is exposed to include: financial, natural disaster, security threats among others. Risk management involves the process of identifying, assessing and prioritising of risks that the organisation is faced with. This is then followed by an organised and planned application of resources at the disposal of the organisation to address this threat. The aim is to avert, control, monitor and mitigate the effects of the risk that has been identified. There are various risk management models at the disposal of the corporation. They include, but not limited to: Project Management Institute, International Organisation for Standardisation (ISO) and others (Matthias & Glasgowl: 2009). This research proposal is going to address the nature of the relationship that exists between risk management and corporate governance. ... These risks might affect the ability of the organisation to attain its goals and aspirations. The effects of the risks on the organisation are multifaceted: there are positive and negative consequences to the firm. Negative impacts may involve loss of revenue, loss of clients and other effects that derail the goals set by the organisation. However, there are also positive outcomes when the firm is exposed to risk (Turnbull: 2009). It should be noted that risks are an integral part of the business' success. If the organisation does not take a risk, then it is very unlikely that they will ever move forward (Turnbull: 2009). Every business venture is a risk; it is a gamble that the organisation is taking. As a result of this, it becomes very important for the management of the firm to come up with procedures that ensure that the firm exploits the positive attributes of the risk while at the same time managing effectively the negative attributes (Turnbull: 2009). Basically, what the management is involved with is the identification and assessment of the risks that the organisation faces as it is run on a day to day basis. They very well realise that some of the risks have to be exploited in order for the organisation to attain their objectives (Matthias & Glasgowl: 2009). 1.2: Research Justifications Mamousee (2008) is of the view that there are many studies that are been conducted at any given time within any given field. This been the case, it is then very important for any researcher, before embarking on the task of conducting his research, to first justify why his research is relevant to the field. Generally, what is the value that the field will get from this particular research and why should it be supported' It is a fact