Cost of Risk Coursework

Cost of risk
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Cost of risk is the price a company pays to manage potential risks. The risk can be the probability of loose finances, physical health or social status. Proactive and reactive programs have been developed to aid manage health and safety. Proactive programs anticipate preventing accidents mostly at workplaces. These programs include analyzing systems to fix any possible errors, forming safety committees that are responsible for any accidents, inspection and hazard analysis, development of incentive programs that recognize reporting and involvement in accident cases, safety education and proper training for employees and implementing accountability programs for discipline purposes.
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