By A B Antonevich; A V Lebedev
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The 101 risk management rules provide a set of guidelines which help to streamline the corporate management process, taking into account technical, organisational, administrative and cultural aspects. 1). These rules are versatile in their character and may be applied by numerous entities, including the public sector (Tworek 2010, 63). All these standards, as well as the institutions promoting them, recommend an organised approach to risk management. 2). 2 presents 12 key characteristics of the standards listed there, with AS/NZS 4360:2004 being the most important standard and providing the basis for ISO 31000:2009, including the supporting documents of ISO Guide 73:2009 – Vocabulary and ISO/IEC 31010:2009 Risk Assessment Techniques.
A decision tree analysis or a sensitivity analysis, derived from the field of corporate finance. In public organisations which have their risks estimated, appropriate risk 1 What Does Risk Management in an Economy Really Mean? 21 responses may be identified (phase 3), and these reactions may be of different kinds (Fig. 3). The best way to secure risks in a public institution is to take out insurance (risk transfer), which may involve a combination of two or more risk responses at the same time (Edwards and Bowen 2005, 136).
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Functional differential equations. I, C*-theory by A B Antonevich; A V Lebedev