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Organization’s risks & Opportunities using a risk management framework…
Organization’s risks & Opportunities using a risk management framework
PT Indofarma (Persero) Tbk
Risk Management Channel
Risk Treatment
Measure & Evaluate
Monitor & Report
Identify Map
Criterias Used in Risk Assessment
Criteria of Risk Appetite Limit (Risk Map)
Conversion Criteria
Likelihood Ratio (likely to occur)
Level 2 (Small Possibility)
May occur some time; Probability 20% <X ≤ 40%.
Level 3 (Medium Possibility)
Can occur some time; Probability 40% <X ≤ 60%.
Level 1 (Rarely)
May occur only under abnormal conditions; Probability ≤ 20%
Level 4 (High Possibility)
It will be possible in many circumstances; Probability 60% <X ≤80%
Level 5 (Almost Possible)
Can occur in many circumstances; Probability 80% <X <100%
Consequence/Impact Ratio
Level 1 (Insignnificant)
Performance target not achieved <20%
Small financial loss
Bad publicity in the internal environment
Minor injuries without the need for medical help
Level 2 (Small)
Performance target not achieved ≥ 20% - <40%
Medium financial loss
Bad publicity in the internal environment and shareholders
Large injuries that needed
Company doctor’s help
Level 4 (Big)
Performance target not achieved ≥60% -
<80%
The rest same as Level 3
Level 3 (Medium)
Large financial loss
Bad publicity in local media
Performance target not achieved ≥40% - <60%
Workplace Accidents with large injuries need the help of a specialist without hospitalization
Level 5 (Catastrophic)
Performance target not achieved ≥80%
Massive financial loss
There is bad publicity in the national media and lawsuits
Workplace Accidents with severe wound and death
Criteria of Action/Response In accordance with the Risk Level
Low = Accept
Medium = Reduce
High = Share
Extreme = Avoid
TOP RISK Criteria Setting
Total risk value above 12 (RKL> 12) ie direct corporate risks with extreme status/level with avoid risk response
Risk Assessment Implementation
The CPRM field sends memo on the implementation of Risk Assessment
Recap the Risk Assessment
Using ISO 31000 Risk Management Framework
EVALUATING RISK &
OPPORTUNITY
Real Options
Enter & Exit
Delay or Defer
Abandonment or Shut-down
Growth
Adjust
Staged investment
Modified ROI Calculation
IDENTIFYING RISKS
& OPPORTUNITIES
Source of Risk and Opportunites
Reporting Risk
Compliance Risk
Operational Risk
Strategic Risk
MANAGING RISKS &
OPPORTUNITIES
Assessing Risk Appetite
Altering Risk Appetite
Assessing Risks & Opportunities
Manage Risk
Share
Transfer
Reduce
Manage Innovation
Azka Hanna Husna (1806268370)
Cintya Evelyn M S S (1806268396)