Running head: TRANSFORMATION OF RISK MANAGEMENTTransformation of
Risk ManagementStudent NameInstitution Affiliation1TRANSFORMATION
OF RISK MANAGEMENTI.2Promoting the transformation of risk
managementRisk management is a crucial part of every organization
key strategy. This is because therisk environment is also evolving
just as much as the business environment. The transformationof risk
management for Akawini can be promoted to support the acquisition
process by unitedminerals. Akawini should develop a risk management
strategy that will align with its businessinterests in the face of
acquisition. It is vital to integrate risk management processes
into thestrategic, business and project planning processes (Fraser,
Fraser and Simkins, 2010). The riskcontrol tools should be
developed for monitoring by the new team, continuous
improvementstrategies in risk assessment, a comprehensive and
consistent risk assessment, evaluation andcontrol should be
developed as well as a single database to hold and manage all forms
of risks.A comprehensive risk management strategy should enable the
organization to identifyrisks, analysis of risk, prioritization of
risk, monitoring of risk assessment, policy and monitoringand
control per the ISO 31000 (Fraser, Fraser and Simkins, 2010).
Therefore as an organizationit is crucial to ensure that the
organization embraces a risk management culture via a quality
riskmanagement plan, secure ethical codes, proper leadership a …