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Research Article

JCR. 2020; 7(3): 742-747


FRAMEWORK OF COMPREHENSIVE RISK MANAGEMENT FOR THE SCIENCE AND TECHNOLOGY FOR DEFENSE PURPOSE

Mridul Dharwal, Vijai Pal Singh Arora, Animesh Singh.

Abstract
In order to respond to markets for economic globalization and enter the foreign market, defense science and technology businesses need to take care of and incorporate thorough risk management. Although there is increasing complexity in the global addition and market peripheral environment, the risk facing companies often increases significantly. Current research on risk management focuses more on investment in projects, science research, engineering risk, etc. This paper proposes an integrated risk management system framework for defense scientific and technology businesses which combines the characteristics of advanced risk management and defense-based scientific and technology companies. At first the latest most symbolic of corporate risk management practices and systems is compared and evaluated. A design and the arrangement of five sections for defense science & technology companies for integrated risk management program were then suggested. Ultimately, a systematic course, stage and research have been developed to incorporate risk management.

Key words: Defense Science and Technology Enterprises, Enterprise Risk Management, Framework, Comprehensive Risk Management, Standard.



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