Innovative Approach to Risk Analysis & Management of Sugar Industries in Punjab

Abstract

Process industries are full of risks especially in sugar industries there are several type of risks causes of failure to achieve desired results. Risk in sugar sector involved at decision making of management, resource manipulation, quality control, engineering constraints, health and safety, process control etc. The best way to manage and tackle these risks a comprehensive risk management approach should be adopted. Project management practices provide the way to handle these types of risks. It provides many risk management approaches to manage these. Risk analysis, as the core part of the risk management process enable the experts to quantify and analyze the risks which can affect the outcome and cause of performance threat for sugar sector in term of low productivity. Risk identification is very essential for sugar sector. It includes the identification of particular risks in each category and then finds the impact on outcome. Purpose of this research is to identify and find the impact on outcome associated with sugar industry in Punjab .Risk disturbing the performance will be identified by literature review and consulting with experts. Then a structured questionnaire is designed on bases of survey and distributed. Make analysis of data and try to provide the guide lines for effective risk management in sugar sector.