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Finance and Credit
 

Residual risks: definition, description and mitigation

Vol. 15, Iss. 28, JULY 2009

Available online: 17 September 2009

Subject Heading: Management of risks

JEL Classification: 

Kilyachkov A.A. Doctor of Technical Science, Manager of Division of JSC «TNK-BP Management»

Chaldaeva L.A. doctor of economic sciences, professor, The Finance State University under the government of Russian Federation
chaldaeva45@mail.ru

Dydykin A.V. Mordovsky State University named by N.P. Ogarev ;

An article is devoted to a risk management. Characteristic parameters of business risk are defined and discussed. Residual risk is defined as a risk which remains, when further implementation of a risk mitigation plan is not economically sound. In this case a business and its residual risk are a single whole. A residual risk mitigation procedure is proposed. This procedure is a combination of different ways of business process implementation in such a way that leads to maximum of an assured financial business result.

Keywords: business, risk, management, finance. result, probability, significance, distribution, business

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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