The Risk Management Programing for Urban Systems

Risk Management is the process of identification, analysis and either acceptance or mitigation of uncertainty in investment decision-making. Essentially, Risk Management (RM) occurs anytime an investor or fund manager analyzes and attempts to quantify the potential for losses in an investment and then takes the appropriate action (or inaction) given their investment objectives and risk tolerance. Inadequate risk management can result in severe consequences for companies as well as individuals.Risk management is uncertainly management including identification, assessment, monitoring and reducing the impact on the business. A proper risk management program can be minimized with the adequate risk management strategies. A director for RM program required special tools and techniques like: avoiding risk with elimination of the factors and consequences of the risk, limiting risk with reducing the likelihood of damage, risk transfer with transmission the potential damage to another party such as insurance company. This paper identifies significant need to Risk Management for urban systems and paraphrases the risks in Electronic Cards system. Hence the mangers can decide the adequate strategy for these risks and improve the system.

Keywords:

Risk Management (RM) , Strategy , Urban systems