Risk management in small- and medium-sized enterprises

Abstract

Risk management is a major issue for companies. But risk and risk management, although a sensitive and current subject, are rather ill-defined, which cause difficulties to companies, and specifically small- and medium-sized enterprises (SMEs). The research presented proposes an innovative and generic approach based on fundamental hypotheses:

 • Risk is the most powerful driver and issue in industrial activities and management by risk is a high level management approach integrating all other company preoccupation.

 • Management by risk is a global process, and a driver for business process innovation. Its deployment needs to be supported by a knowledge base coupled to a decision support system.

This approach has been developed notably through the European project PRIMA (Project RIsk MAnagement), IST-1999-10193, 00-02. The specific case of the SME is finally considered.

Keywords:

• Risk management
• Knowledge management
• Strategic decision support system
• Organisation by process
• Project management