Questionnaires and Surveys

Questionnaires and Surveys

Introduction

In times of a crisis, when there is presence of any potential threat or risk, efficient measures need to be adopted to deal with these concerns so as to maintain the quality functioning of a particular organization. In such instances, the most crucial task is to correctly identify and assess the risk factors so that appropriate measures can be developed which address all of the surfaced concerns, in a way that ensures the best and rewarding outcomes.

Risk Management

The process of risk Management includes a measure of risk, assessment of potential risks and evaluation of response strategies to overcome times of uncertainty that bring with themselves various accompanying concerns which affect the overall functioning of an organization. The efficient management of risks involves a series of lined prioritization process, to reduce the risk of negative outcomes of decision-making processes through risk identification, risk estimation and risk assessment. With the appropriate selection and application of an optimal combination of various risk management techniques, effective control of risks can be ensured. The best management of risks, however, additionally deals with the consequences of the risk of loss, which can surface as minimum cost and maximum security begins to be directed towards a particular project (Kendrick, 2009).

Risk Assessment

The process of risk assessment refers to the method of analysis aimed to clarify the nature and size of potential risks for a particular organization. Once the possible impact of all risks has been identified it is essential to assess them so as to design and implement the best strategies to overcome the harm that they can cause. This phase makes up the last stage of risk management which is known as risk control. In this process, companies and organizations often use aggressive measures to manage risks. The primary aim of this stage is to maintain a reduction in the extent of losses while achieving control. The most effective way to control risk is to develop a practical contingency plan, prepare a number of alternative solutions to minimize the risks faced.

The Process of Risk Assessment

In the entire process of risk management, the process of risk assessment often holds the most significance. This is because only the appropriate evaluation of threats can help the practitioners in developing the most efficient strategy to induce control. Owing the importance of this phase, practitioners and other researchers, are keenly interested in the comparative analysis of various methods along with their strengths and weaknesses in different scenarios (Peter, Katherine & Steven, 2013).

Questionnaires and Surveys as Tools for Risk Assessment

Research in the field of management sciences has suggested that questionnaires and surveys are well established techniques for assessing a particular project's risk factors. The general analysis of survey tools indicates that they are most beneficial and are easy to develop as well. The survey method uses specifically developed questionnaires to look into the concerned aspects. The amendable nature of these questionnaires makes it even more advantageous as a questionnaire can be changed as per the ...