Enterprise risk management using the FMEA-AHP approach

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dc.citation.epage48
dc.citation.issue1
dc.citation.rankM31
dc.citation.spage38
dc.citation.volumeXX
dc.contributor.authorPanić, Marija
dc.date.accessioned2024-12-24T12:31:02Z
dc.date.available2024-12-24T12:31:02Z
dc.date.issued2024
dc.description.abstractRisk is an integral part of people's lives and and companies' business. It is often associated with uncertainty because an event can happen but does not necessarily happen. Every decision that managers make carries a certain degree of risk. Therefore, managers must be innovative, flexible and ready to deal with risks. Certain risks can be eliminated or reduced depending on the available capabilities and resources. In today's business conditions and constant changes, for companies to maintain their position in the market, Enterprise Risk Management (ERM) is imperative. The goal of ERM is to recognize all positive and negative factors that can affect the company, thereby increasing the probability of success and reducing the probability of failure to achieve the company's goals. In this paper, the identification of risks in the production company was first carried out using the FMEA method. Then, by applying the AHP method in the Expert Choice software program, the proposed alternatives for ERM were ranked. The obtained results showed that the mentioned measures can greatly improve business operations and significantly mitigate the risks the investigated company faces.
dc.identifier.doi10.5937/IMCSM24004P
dc.identifier.isbn978-86-6305-150-8
dc.identifier.issn2620-0597
dc.identifier.urihttps://mksm.tfbor.bg.ac.rs/downloads/2024/IMCSM24_Book_of_proceedings_Issue_1.pdf
dc.identifier.urihttps://repozitorijum.tfbor.bg.ac.rs/handle/123456789/5932
dc.language.isoen
dc.publisherUniversity of Belgrade, Technical Faculty in Bor
dc.rights.licenseCC-BY-NC-ND
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/
dc.source[XX] International May Conference on Strategic Management – IMCSM24, May 31, 2024, Bor [Elektronski izvor]
dc.subjectrisk
dc.subjectrisk management
dc.subjectERM
dc.subjectFMEA
dc.subjectAHP
dc.titleEnterprise risk management using the FMEA-AHP approach
dc.typeconferenceObject
dc.type.versionpublishedVersion

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