Risk Management Principles

CMGT/430

INTRODUCTION
Riordan Manufacturing is a company that is commited to handling their business in an ethical and logical manner. In order to provide the proper risk management plan for the company there needs to be a conference with all of management and stakeholders to get an oversight on the company and what it needs for mitigation control and risk management. The company needs to reconsider getting input from internal auditors, external auditors and outsources. Management will also need to get all of the department heads and key people together to discuss all of the initial assessments of the risk management capabilities and how effective it can be on the network/system. This assessment will be able to decide rather to have or continue with a more in tune risk management plan. There is also the need to discuss how to make the plan stronger for the company and how the analysts should focus on the risk management mitigation for Riordan manufacturing.
Risk Management Principles
Riordan Manufacturing is a corporation that is consistent of many different businesses. This new plan that needs to be implemented will help each business to deal with and handle their everyday risks and teach them how to make the proper decisions on what can or could be done. In order for this new plan to be implemented, eack business will have to be able to weigh out the risks with the strategies and be able to know and choose the proper decision when responding to certain risks. These risks will have to be learned in order for the company to be prepared for everyday business from the outside world. The suggested risk management policy will be through the entity of the company and will be used by management and employees no matter their status with the company. It will help identify any and all potential risks or issues when and if they occur