Question

1. Write an essay not more than 5(five) pages; 2. Line spacing: 1.5, font type: Times new romans; font size: 12; 3. Cite appropriate references for all definitions, and quotations; 4. Align your essay by justifying the whole document; 5. Avoid bullet points/numbering in the essay but focus on discussing ideas and avoid use of tables; 6. Provide not less than 5 (five) references excluding Wikipedia and lecture notes. write an essay to Discuss the idea that organisations that practice risk management perform better than those that do not.

Answer 1

Write an essay to discuss the idea that organizations that practice risk management perform better than those that do not.

Planning is always better for the future, this is because if we plan then we see ahead and make sure that the problems that may arise in the future are tackled in the present.
The companies that do risk management have better growth from the companies that do not do risk management.
This is because of the following facts.

1- This makes easier to spot the projects that will not be feasible in the future, this is because we can make the assessment in present about future projects.
2- Give us fewer surprises, if we assess a project now that we can be sure that we will not get any surprise about the income or loss for the projects.
3- Quality data, when we do a risk management we get a quality data for the risk management.
4- Prior communication, risk management make sure that we can communicate to the stakeholders the facts that should be known to them for the project.
5- No guesswork, we can be sure about the budget that will be implemented and we can make sure that the budget is calculated with an approximate amount that is merely the actual amount in the future.