Enterprise Risk Management Algorithm is a continuous, closed loop, consisting of eight phases and comprising a set of organizational, economic and management activities in three phases: preparation, decision-making and implementation.
Preparation stage includes procedures for identifying and classifying risks in various areas of increased enterprise risk.
The decision stage is the identification of the problem and consists of defining the main risk parameters: strength, probability of occurrence, synergy, degree of danger.
The realization Stage includes use of methods of management of risks, monitoring of level of risks, control and assessment of results of the held events, transition to the analysis of a situation.
Enterprise Risk Management Algorithm Diagram