Risk management system in a manufacturing company – case study

Purpose: The purpose of this paper is to present a case study in the development and implementation of a risk management system in a medium-sized manufacturing company. The first part discusses the basic concepts related to the enterprise risk management process. A five-stage model of this process is briefly characterised which was used to build the system in question. This is followed by a presentation of the procedures developed for use in the practical implementation of the enterprise risk management system at each of the three distinguished levels of risk management. An example of one of the procedures developed and used is presented, together with a checklist for the analysis and assessment of risk factors for the identified risks. The risk management system developed for the company in question was implemented for practical use in the company over several months. At the end of the successful implementation of the system, the minor shortcomings identified have been rectified and it is being used by all, distinguished owners of the identified risks in the enterprise. Design/methodology/approach: This paper presents a new and original approach to the practical application of risk management in a medium-sized manufacturing company. Risk owners were distinguished for all processes carried out in the company and risk types were identified for them. Checklists were established to analyse and assess the risks for each distinguished risk type. Originality/value: The results of the conceptual and implementation work on the analysis and risk assessment of the implementation of processes in the enterprise obtained and presented in the paper can be addressed to those involved in company management, both in a practical and theoretical sense.