RISK MANAGEMENT STRATEGY IN AUSTRALIAN FEDERAL GOVERNMENT: CRITICAL ANALYSIS WITH SYSTEM DYNAMICS APPROACH

摘要

Risk Management Strategy provides an overview of the processes directed at reducingrisk and capturing opportunities. It outlines processes and techniques to enhance theefficiency of risk management. A formalised, well-structured and systematic approachto risk management is essential to ensuring the continuing success of the programmesand the achievement of the programme objectives. Better management of risk and moresuccessful activities are the expected outcomes.Managing risk is an integral part of sound management, and fundamental to achievingprogramme objectives. Risk management activities take many forms, and although mostmanagers do not use the term ‘risk’ when they undertake these activities, the concept ofrisk is central to what they are doing.In this sense, this paper examines the concept of risk, the objective and policy of riskmanagement, the strategy and the generic procedure. Also as a case study, the RiskManagement Strategy of Tax Concession Program in Australian Federal Government isanalysed with System Dynamics perspective.