Risk as a Factor in Decision-Making

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Abstract:

Incorporating the problems of risk in the management of an organiza­tion is an important issue for any manager, especially for those in the security sec­tor. This article examines different approaches that enable taking into account the associated risks in decision-making. Considering a comprehensive understanding of risk, the transformation problems resolved in an organization and the types of fac­tors in decision-making, three different approaches are described. Based on the Analytic Hierarchy Process (AHP) methodology, an integral criterion for selection of an alternative could be developed.