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What is a Management Dashboard?
The term Management Dashboard defines a wide range of data reporting and visualization tools or dashboards that allow using various performance & efficiency measures to report on an enterprise’s ability to organize and coordinate its activities in accordance with certain policies and in achievement of pre-determined objectives. What is a Management Dashboard?
 
 
 
 
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Money Management Action Plan

In this Money Management Action Plan you can read a range of tips and suggestions that will help you manage your money in an effective manner.

Money Management Action Plan
 
 
 
Home » Glossary » What is Process Risk
What is Process Risk  

What is Process Risk



 
 

Process Risk is a factor that threats successful performance of a process (its timing, costs, quality of results and other success measures). Any process can face a big number of predicted or unpredicted risks while it is on the run. All process risks can be characterized by:

  • Probability to occur;
  • Severity of impact;

One of the distinctive traits of all business processes is a comparatively stable and controlled environment in which they are operated in a recurrent manner. This makes a predictability of risks connected to business processes much higher than for example when assessing a project’s risks. Process risks have the following traits:

  • Comparatively small number (due to controlled environment);
  • Good awareness about them, which gets improved with every process iteration;
  • Possibility to improve process environment to reduce or eliminate some risks;
  • Well-known methods and technologies for mitigation of the risks;
  • Possibility to continually study and measure the risks to reexamine their probability and impact;
  • Opportunity to design and continually improve the risks mitigation methods;
  • All unexpected risks detected on a previous iteration can be isolated on a new one;

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