In: Accounting
Disadvantage of Quality risk management?
I am including 3 disadvantages for better understanding of the question.
The disadvantages of Quality risk management are:
a. Complex calculations:
Quality risk management involves complex calculations in terms of managing risks. It does not allow for the determination of probabilities and results using numerical measures. Each and every calculation regarding risks become difficult without the automatic tools.
b. Performance:
the quality risk management can be processed only with subjectivity. It can be identified with the difficult implementation of controls. It manages the cost and benefits analysis that is not implemented. Achieved results have general character, approximates, etc.
c. Difficulty in implementing:
Quality risk management takes a long time to gather information regarding strategic plans. It has universal standards that are accepted according to the monetary values.