Management of the Environmental Risks Identified in an Organization

Abstract

Response to risk is a process that is directly involved in risk management and is governed by the organization's security strategy, environmental characteristics and security mechanisms. The management identifies the options available to respond to the risk and analyzes the effects of these options on the likelihood and impact of a risk, in close connection with the availability for the risk and costbenefit ratio, and then conceives and implements actions of response to risk. These steps are integral parts of risk management and contribute to bringing the level of risk within agreed tolerance limits. The paper presents the evaluation of risk management options and the way of environmental risk management decision making. The multi-criteria analysis of risk management options and the use of the precautionary principle are also presented.