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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 adapt to economic globalization competitions and enter the international market,
defense science and technology companies must take care of and implement comprehensive risk management.
Although there is increasing complexity in the global integration and market external environment, the risk
facing companies often increases significantly. Current research on risk management focuses more on
investment in projects, corporate finance, 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 and technology companies for the integrated risk
management program were then suggested. Ultimately, a systematic course, stage and research have been
developed to incorporate risk management.

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



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