The Methods of Measurement and Analysis of Risks in Businesses: A Case Study on the Jordan Valley Authority

Abstract

This research attempted to shed light on the different measures used to evaluate risk. The research examines the Jordan Valley Authority’s risk measurements and explores the different procedures and techniques used to evaluate, or avoid (in some cases) risk. The research found that despite the existence of various quantitative methods to measure risk, the standard methodology used by Jordan Valley Authority is based on experience and intuition. Most managers, in this study relied heavily on the manager’s experience to handle risk. There are two ways to manage risk. The first is to avoid scenarios that could lead to a risky situation, causing the organization to divert from achieving its goals, and the second deals with reducing the effect of danger (or harm) caused by risk.

Keywords: Risk measurement, risk assessment, Entrepreneurship, leadership, entrepreneurial dimension properties, and chances of survival.