Justifying The Cost Of Risk Management Information Systems
- Tags:
- Finance,
- Financial Planning,
- Financial Services,
- Investment,
- Management,
- Marsh,
- Risk Management,
- Security,
- Strategy
- Source:
- Marsh
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Overview: By providing timely information, the means to access and analyze it and reducing an organization's cost of risk, an effective risk management information system (RMIS) ultimately pays for itself. But many risk managers must be able to cost-justify their investment in a new RMIS to obtain the budget authorization for the purchase. One way to gain management's approval for a new purchase is to express the request in investment terms it understands. A cost/benefit analysis can show how an RMIS investment can make a positive contribution to the organization's bottom line. The paper shows four steps to achieve this.
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Format: PDF | Size: 88KB | Date: Sep 2004 | Pages: 7
