Risk Management

Essay by collossusCollege, UndergraduateB+, June 2006

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I am studying Computer Science at Technical University of Vienna. What I study now has mostly with hardware stuff to do. We learn also programming, designing and other stuff because it is not just about hardware.

When people produce hardware, they also have to program it, so that they go together with the operating system (like Windows, Linux). Designing is also a good part of the system. When a part for the computer is being created, people must be cautious with the design of the part. If a part, that we plug to the mainboard, is being produced, we have to be sure that it fits with the mainboard together.

If I start with the designing of the hardware it would be much better. People are most like to buy the stuff, which look much more better, durable, and fancy. In my opinion, if a producer trys to sell a part of an electronical mechanism, it should have at least a design that pulls the customers to itself.

When people go to buy a PC or a Notebook, the first thing they see is the design of the computer. These things may convince people to buy much better designed stuff.

What I really would like to talk about is, the risk management of companies. There are some companies and those companies manage the threats for other companies. The company that manages it, compares the threats, finds the risk exposure (it means more risk exposure a threat has, more risky the threat is) and then submits the most dangerous threats then try to find the solutions. When there is no solution, then the company tries to find some approaches to the threats, so that they could be fully or partially avoided. Risk exposure is found by multiplying the cost that a...