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4 views11 pages

PPT

Uploaded by

salonisingh58494
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NAME :- SINGH SIMRAN MOHANCHANDRA

ROLL NO :- 161
COURSE :- BCA(SEM-2)
SUBJECT :- AEC (Ability Enhancement and Personality Development)
SUBMITTED TO :- Prof. Meena Tandel
The Intersection of Budgeting and Risk Management:
Mitigating the Financial Threats

“A budget tells us what we can’t afford, but it doesn’t keep us from buying it”
-William Feather
Table of Content
❑Introduction
❑Advantage of Budget and Risk Management
❑Approaches of Risk Management
❑Process of Risk Management
❑Ways to Mitigate Financial Threats
❑Conclusion
Introduction

What is Budget?
♦ A budget is an instrument of management used as an making planning, programming and control the business activity.
♦ A budget is for cost control purposes.
♦ It is one of the most important activities employees by management.
♦ It represent the financial requirement of different section of business.

What is Risk Management?


♦ In the financial world risk management is the process of identification, analysis and acceptance on mitigation of uncertainty in
investment decision.
♦ Risk management occurs when the investors offend managers analyses.
♦ Attempts to quantify the potential for losses in an investment and then take the appropriate action gives the funds investment
target and risk tolerance.
Advantage of Budget and Risk Management

Advantage of Budget:

Manage your money effectively

Allocate appropriate resources

Monitor performance

Meet your objectives


Advantage of Budget and Risk Management

Advantage of Risk Management:

Everyone should manage risk

Makes job safer

Enables project success

Reduces unexpected events

Guides decision making


Approaches of Risk Management

Risk
Avoidance

Risk Risk
Retaining
APPROACHES Reduction

Risk
Sharing
Process of Risk Management

Identify the Risk

Analyse the Risk

Prioritize the Risk

Treat the Risk

Monitor the
risk
Ways to Mitigate Financial Threats
☻ Carry Insurance

☻ Evaluate efficiency

☻ Maintain emergency funds

☻ Invest in quality assurance

☻ Maintain quality records

☻ Reduces unneeded debt

☻ Create a cash management strategy

☻ Invest in employees
Conclusion

Using leadership skill in risk management:


➢ This theme is about the how the respondent describe the roles that their leadership skill play in coordinating the
various tools available to them to eliminate the risk associated with the project that they manage in order for
them to deliver the output that the stakeholders expect to them.

➢ All the respondents emphasized the importance of risk management in project management and also the need to
apply good leadership skills in risk management.
THANK YOU…!!

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