154 ◾ Improving Business Process Performance
Types of Risks and Management: Which One Should I Use?
Depending upon the needs of the organization, the risks can be categorized as:
1. Technology Risk: It occurs when a new technology is adopted and its com-
ponents might be developed or purchased from outside vendors.
2. Business Risk: It occurs due to external or internal business conditions as a
new competitor or entrant in the market or reorganizations.
3. Process Risk: It occurs when the proper end to end activities are either
skipped or not followed in a department, team or an organization.
4. Project Risk: It occurs when requirements, analysis, design or development
techniques incorporated in a project are not robust. Cha ...