In business, the term Operational Risk Management (ORM) is the oversight of many forms of day-to-day operational risk including the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events. Operational risk does not include market risk or credit risk.
Benefits of ORM
Reduction of operational loss.
Lower compliance/auditing costs.
Early detection of unlawful activities.
Reduced exposure to future risks.
http://en.wikipedia.org/wiki/Operational_risk_management
Sunday, February 17, 2008
Operational risk management
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2 comments:
really important issue. in many IT projects, there's 0 to 50% of ORM. In fact, ORM comes from goodwill of employees, sometimes instead of management.
It is easy to manage risks for business where assets are tangible.
For IT companies, especially software, It is mostly intangible assets (one line of code is an asset, and in consequence, involves some risk).
ORM for intagible Assets :-)
hi, how are you!!Do you remember me?? maybe not.
kiss
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