University of Twente Student Theses


Risicomanagement: nie ohne Risicomanagement arbeiten. Risicomanagement binnen Norma

Hofte, A. ter (2011) Risicomanagement: nie ohne Risicomanagement arbeiten. Risicomanagement binnen Norma.

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Abstract:Through acquisitions Norma has grown strong in recent years. With the growth of the organization,there are the risks that Norma faced, and had changed and became more difficult to control. Norma has no formal plans to assess and control risks in use yet. In the past this fitted well in the organization. A small organization is easier to manage than a large organization. Within Norma there is a need to be in control. The objective of this study is to inform the organization about it's risks and the likelihood and impact of these risks, and how an internal audit can be arranged so that compensatory measures can be taken to better manage risks. In the first part of this study a literature review is conducted. Once the backgrounds and different ways to implement risk management are discussed, we present our own Norma-method. This method consists of three steps, by going through these three steps it is possible to answer the three research questions. The first phase of the method is the risk identification phase, at this stage the field of research needs to be determined, then through interviews with people involved a list of risk is composed. In the second phase, the evaluation phase, risks are prioritized. This is done by dividing 100 points over the risks for each department or process. The response phase is the third stage and is concerned with the question of what measures must be taken. The established risk profile from the evaluation phase serves as a basis for drawing up the measures. In the second part of the report, the method that forms the literature review is followed. At the identification stage, the risks relating to financial reporting are defined as the field for this study. Subsequently, through interviews, a list of 19 risks in this field has been composed. The balance sheet, as shown in the monthly reports, forms the basis for these interviews. During the evaluation phase that follows, risks are prioritized by means of a distribution of 100 points among the risks. In order to better understand the basis of the risks that arise, there is a risk matrix which is a result of the 100 points distribution is analyzed. In this analysis, are the risks as they occur and as they are interpreted within the different branches of the starting point. The last part of this research focuses on the compensatory measures. First, the control table is presented. This table considers the risk, loss, awereness and possible control measures. These components provide an objective view of the risks and answers the questions i.e. how and what? With the answer of the questions, the measures tables can be established. Next compensatory measures are displayed per balance sheet item. By risk group the objectives, measures, responsibilities and the period and frequency are presented in the measures tables. The final section discusses the implementation and monitoring of the compensatory measures.
Item Type:Essay (Master)
NORMA, Hengelo (O), the Netherlands
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:Business Administration MSc (60644)
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