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A Refined Risk Management Paradigm

James Wm. Kallman and Romy Violette Maric
Risk Management
Vol. 6, No. 3 (2004), pp. 57-68
Stable URL: http://www.jstor.org/stable/3867779
Page Count: 12
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Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
A Refined Risk Management Paradigm
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Abstract

This paper looks at past risk management models and incorporates parts of those models into a new paradigm. This new refined paradigm can be viewed as a cyclical system containing five steps, with each step having three stages. The model is new in that each of the steps--program development, risk analysis, solution analysis, decision process, and system administration--are geared toward helping the organization achieve its goals. In addition, the new model is designed to involve all stakeholders. The risk management paradigm is a comprehensive and logical management method. It also has a flexible structure that allows it to adapt to future innovations in the risk management discipline.

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