What is Risk Management

Risk is the “effect of uncertainty on objectives”. Risk may be a single event or a set of circumstances that affect, adversely or beneficially, the achievement of object.

In the context of contemporary risk management, uncertainty exists when there is an inadequate or incomplete knowledge or understanding of an event, its likelihood and/or its consequence

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CAK Berhad Risk management system refers to the set of principles, framework, culture, processes and coordinated activities to direct and control an organization with regard to the many risks that can affect its ability to achieve its objectives. Effective risk management increases the likelihood of achieving objectives, identifying and pursuing opportunities and avoiding or minimizing harmful surprises.