Affiliation:
1. GITAM University, Visakhapatnam, India
2. National Institute of Technology, Warangal, India
Abstract
People fear uncertainty as it leads to risk in the pursuit of their journeys, where they seek success. The authors articulate that opportunity lies beyond risk, encouraging individuals and business organizations to take calculated risks. In this chapter, the authors will show how risk-based decisions become more feasible when the decisions are made in light of risk assessment tools available to business organizations. The chapter will orchestrate the impact of risk assessment tools (qualitative, quantitative, and hybrid risk assessment tools) on organizational effectiveness given their perceived benefits in the information technology industry in India.