Temporal Dynamics of Risk Analysis and Management

Abstract

This research aims to find focusses on response, recovery, and lead times and how they affect risk management across industries. Exploring theoretical and practical risk management optimisation methods and how these temporal factors affect organisational resilience, sustainability, and decision-making is the main focus. These factors have substantial implications for enhancing risk management theories and procedures, according to the research. This questionnaire study examines time-sensitive factors' influence on risk mitigation methodologies using quantitative and qualitative methods. Well-managed lead, response, and recovery phases make businesses more robust and better at decision-making. The research also advises incorporating time series analysis into risk management frameworks and highlights industry disparities. Some essential proposals include creating time-related training programs, incorporating temporal dynamics into risk management frameworks, and developing industry-specific temporal risk mitigation strategies. Since this study uses self reported data and focusses on one sector, bigger and longer investigations are required to corroborate findings and evaluate different contexts. This work advances theory and practice by offering efficient risk management strategies for time-sensitive situations. Future studies should employ several methods and involve additional industries to improve temporal risk management systems.