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000-034 exam Dumps Source : IBM Tivoli Monitoring V6.2.2(R) Fundamentals

Test Code : 000-034
Test cognomen : IBM Tivoli Monitoring V6.2.2(R) Fundamentals
Vendor cognomen : IBM
: 101 actual Questions

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IBM IBM Tivoli Monitoring V6.2.2(R)

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VoIP network management With IBM | killexams.com actual Questions and Pass4sure dumps

IBM company, headquartered in Armonk, long island, ranks among the few agencies that has created computing and communications improvements for over a century.

included in 1911 as the Computing-Tabulating-Recording company (C-T-R), the firm's predecessors can subsist traced to the Eighteen Eighties with inventions reminiscent of time clock to checklist a worker's arrival and departure time on paper tape, and the punched card gear that become used to tabulate census information.

Thomas J. Watson, Sr., a former govt at national money Register enterprise, joined C-T-R in 1914 and famously insisted on "neatly-groomed, dark-acceptable salesmen," and a company heart of attention on "tremendous-scale, customized-built tabulating solutions for big agencies".

His son, Thomas J. Watson, Jr., modified the company from maker of tabulating gadget and typewriters right into a pioneer of the computing industry, introducing the gadget/360 mainframe in 1964.

today, that focus has broadened greatly, with items that latitude from laptops to these huge mainframe programs, and a corporation that serves each consumers and diminutive to massive organizations. IBM employs over 386,000 people worldwide, and, during 2007, recorded $ninety eight.6 Billion in salary.

To enhance their succor of the Token-Ring networking expertise, IBM delivered NetView/computer in 1986, which elevated the network administration capabilities of IBM's systems network architecture.

IBM's community administration guide labor changed into extra more advantageous in 1996 with the merger of IBM and Tivoli techniques, Inc., a leading issuer of programs administration utility for disbursed client/server networks. IBM's acquisition of Tivoli prolonged its network administration capabilities past the mainframe to multi-platform, allotted methods. These initiatives absorb been extra strengthened with IBM's 2006 acquisition of Micromuse, Inc., and its Netcool line of commercial enterprise community administration options.

The Tivoli utility solutions provided integrated visibility, control, and automation throughout numerous company and know-how belongings, therefore maximizing these property in succor of community operations. These products ply a wide variety of community management challenges, together with:

  • Asset management: proposing a comprehensive view of every asset types across the enterprise, together with construction, amenities, transportation, and IT.
  • carrier administration: permitting corporations to extra with no trouble and correctly bring IT services together with technique and operational management items and most arrogate practices consulting features.
  • Server, community and gadget management: enabling an conclusion-to-conclusion view of the IT infrastructure for useful resource allocation, monitoring, and provisioning.
  • Storage administration: addressing the needs for attainable and unquestionable guidance.
  • protection management: aiding the crucial e-business challenges of automated id management and security adventure administration.
  • Mainframe administration: monitoring the health and applications for IBM z/OS and OS/390 programs.
  • another vital zone that is supported by the Tivoli suite of application is the Netcool utility for service providers, which offers precise-time efficiency and service management for provider providers. IBM claims that over 1,000 carrier providers, together with every of the proper 20, signify on this network management solution. This kit helps telecommunications, instant, cable, and information superhighway service providers in assembly each their latest and future service start challenges.

    Of special hobby is the service VoIP provider administration solution, which is designed to succor every layers within the network and every links throughout it-from the core network to the client's premises-as a consequence quite simply managing VoIP features and preserving a tall property of flavor (QoE) for the customer.

    The system monitors key performance and property symptoms in staunch time, for metrics including utilization (busy-hour muster attempts, minutes of use, and speak to locations); VoIP powerful (MOS), muster clarity index, and speech pastime); muster signaling (name completion cost, grade of service, and post-dial delay); service pleasant (availability, reflect delay, and publish-dial extend); and subscribers (average salary per consumer, condition of service routine, and open tickets), as proven in motif 1.

    A second Tivoli answer, the Netcool trade VoIP manager, consolidates the administration of VoIP purposes, servers, and the underlying networking infrastructure, from PBXs to gateways. This gadget is designed to satisfy the requirements of each medium and big enterprises-in addition to managed provider providers.

    This offering is packaged with the Tivoli Netcool OMNIbus and Tivoli Monitoring products, and permits network managers to prolong their latest monitoring capabilities to the administration of VoIP technologies. This solution can scale to succor enterprise environments of as much as a hundred,000 IP endpoints, and provides out-of-the-container succor for both Cisco and Nortel VoIP environments.

    For Cisco environments, the enterprise VoIP supervisor helps Cisco cognomen manager and Cisco cohesion, plus edge routers, gateways, and gatekeepers. For Nortel environments, the product supports communication servers, enterprise conversation managers, media gateways, far off gateways, and signaling servers.

    The system comprises real-time shows with multiple charts that expose community utilization, ability, availability, and efficiency metrics, plus customizable weak reports. it is designed to office with pink Hat enterprise Linux, Microsoft home windows Server, or Microsoft windows XP professional operating methods.

    additional particulars on the IBM architecture and items will too subsist institute at 'http://www-306.ibm.com/software/tivoli/solutions/voip/" trend="text-decoration:none">http://www-306.ibm.com/utility/tivoli/options/voip/. Their next tutorial will continue their examination of providers' community administration architectures.

    author's BiographyMark A. Miller, P.E., is President of DigiNet service provider, a Denver-based mostly consulting engineering company. he's the writer of many books on networking applied sciences, together with Voice over IP technologies, and web applied sciences instruction manual, each posted by John Wiley & Sons.

    Article courtesy of commercial enterprise VoIP Planet, © 2008 DigiNet company, every Rights Reserved

    Mark A. Miller, P.E. is President of DigiNetB. trade enterprise, a Denver-based consulting engineering company. he is the author of many books on networking technologies, together with Voice over IP applied sciences, and internet technologies handbook, each published via John Wiley & Sons.


    IBM Launches "competent for IBM energy & environment" Validation for company companions | killexams.com actual Questions and Pass4sure dumps

    Effort to aid purchasers establish options With precise-World, Documented power and atmosphere merits

    ARMONK, the huge apple -- (MARKET WIRE) -- 02/05/09 --  IBM (NYSE: IBM) today introduced a current technical validation application to assist consumers effectively establish IBM enterprise associate choices that are designed and verified to give energy and environment benefits.

    the current "competent for IBM energy & ambiance" technical validation -- a first-of-its-form within the IT trade -- is designed to uphold IBM trade companions validate, market and promote options mien a special mark that assures shoppers the product or carrier has been carefully evaluated and proven to in the reduction of environmental influence according to precise-world client use.

    competent for IBM energy & atmosphere is open to any of IBM's almost a hundred,000 enterprise partners and is targeted to those which forward utility, hardware or features solutions that consist of IBM expertise or services and demonstrate consumer-documented, measurable sustainability benefits.

    IBM's validation process requires items and capabilities to fulfill stringent standards that tackle the reduction or expend of elements akin to power, water and paper materials. These requirements, established by using the IBM power & atmosphere evaluation Board, are according to IBM's lengthy background of environmentally liable practices in its personal operations, as well as wide flavor in assisting customers worldwide ply energy, ambiance, and sustainability considerations and alternatives. every submissions may subsist reviewed by route of this board and IBM's corporate Environmental Affairs, which is offering assistance and input to the program.

    "We developed this application to succor purchasers reduce in the course of the litter of self-labeled 'green solutions' and identify items and capabilities that present customer-documented environmental merits," mentioned Jim Corgel, standard manager of IBM independent utility vendors and developer members of the family. "This current software showcases solutions that are already reducing environmental influence within the box and should aid their company companions more desirable set themselves to satisfy valued clientele' power and ambiance desires."

    company partners that acquire the validation can market their providing as "able for IBM energy & environment" and prefer allotment in IBM-pushed advertising alternatives that consist of on-line marketing campaigns, talking alternatives, and free hobbies for customers and potentialities showcasing their in a position for IBM energy & ambiance solutions at any of the 42 IBM Innovation facilities international.Validated: capable for IBM power & EnvironmentAPC by means of Schneider electric powered, a world chief in crucial punch and cooling functions, is one of the first trade partners to accept hold of the competent for IBM power & environment validation. The enterprise's InfraStruXure(R) facts core structure options thoroughly combine power, cooling and environmental administration inside a rack-optimized design. InfraStruXure distinguished works with IBM Tivoli Monitoring utility to supply determination-makers extra visibility and ply of their IT infrastructure's energy consumption to aid enrich power efficiency.

    Combining APC InfraStruXure structure with IBM BladeCenter servers in the course of the IBM Scalable Modular information core offering, Rhode Island-based mostly Bryant institution decreased its electricity usage from 603,593 kWh to 480,000 kWh per year, saving over $18,000 yearly. moreover, the university consolidated its facts facilities from three places to one, decreasing the mandatory cooling faculty from forty three to 25 tons.

    "IBM's ready for power & environment program is a compelling third-birthday party validation of the proven energy reduction advantages supplied by route of their InfraStruXure structure," mentioned John DiPippo, senior vice chairman of statistics heart features, solutions and utility at APC. "With so a powerful deal hype around 'green,' it is vital for their potential clients to know they could confidently purchase InfraStruXure with IBM's validation."

    IBM Premier enterprise accomplice pink Hat has obtained the capable for IBM energy & atmosphere validation for its solution of crimson Hat commercial enterprise Linux 5 working on zVM and IBM gadget z mainframe. BNZ, one of latest Zealand's greatest fiscal functions providers, selected these technologies for its entrance-end IT ambiance to assist meet its company aim to turn into carbon impartial with the aid of 2010.

    because migrating to this solution, BNZ has reduced its datacenter footprint with the aid of 30 % by means of consolidating 131 sun Sparc systems and recorded a 33 p.c discount in heat output and a 38 % reduction in vigour utilization. apart from environmental advantages, BNZ plans to accept hold of can permeate benefits with approximately 20 p.c revert on its investment anticipated over the life of the platform.

    additionally, IBM company companion KLG Systel Ltd. of India too has obtained validation for its energy administration device connectgaia.com it really is developed on IBM's open requisites-primarily based SOA structure, together with IBM WebSphere Portal and DB2 database utility.

    This internet-based providing enables energy buyers to MEASURE, VISUALIZE, ANALYZE, control AND shop(TM) electricity as hobbies prefer set right through their business. The gadget combines superior metering, sensors, digital inputs and digital outputs to assist customers akin to Aggressive Electronics develop into more energy productive with the aid of matching their cooling load to the IT gadget heat output on a real-time groundwork, decreasing overall energy use. Implementation of the gadget has helped save the company 12,252 kWh of annual power utilization and receive a revert on its funding in just five months.IBM power & EnvironmentThe ready for IBM power & environment validation offers an opportunity for its enterprise companions to subsist a allotment of with IBM in providing more advantageous power effectivity and other environmental merits for valued clientele. moreover its enterprise associate group, IBM additionally actively gives elements to developers and works with dozens of bigger education institutions every over to promote next technology purposes and the abilities indispensable to boost power and atmosphere expertise options. as an instance, IBM developerWorks hosts The eco-friendly IT file, an internet repository for IT experts interested in learning about adding power efficiency into their options.

    With improved intelligence being infused into the style the world works, IBM is establishing current how you can succor purchasers ply energy, ambiance, and sustainability concerns and alternatives. IBM's products and functions are focused not simplest on enhancing the direct power consumption and associated CO2 emissions of counsel know-how itself, but additionally making expend of IT to aid remedy the area's energy and climate challenges.

    starting from energy-efficient IT hardware and energy-administration application to the clever Utility network Coalition, water management solutions, "greener" deliver chain choices, photo voltaic-energy research, carbon management consulting, smarter transportation methods, and extra, IBM's initiatives are responding to reaching international sustainability dreams in line with the company's core cost of "innovation that concerns."

    IBM trade companions can nominate solutions for the ready for IBM energy & environment validation athttp://ibm.com/isv/tech/validation/power.For more assistance on IBM's ideas and solutions to succor construct a better planet, consult with:http://www.ibm.com/ibm/ideasfromibm/us/smartplanet/20081106/index.shtml.For greater tips on IBM's solutions to succor purchasers proceed "eco-friendly andbeyond," behold http://www.ibm.com/ibm/eco-friendly/index.shtml.


    000-034 IBM Tivoli Monitoring V6.2.2(R) Fundamentals

    Study guide Prepared by Killexams.com IBM Dumps Experts


    Killexams.com 000-034 Dumps and actual Questions

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    000-034 exam Dumps Source : IBM Tivoli Monitoring V6.2.2(R) Fundamentals

    Test Code : 000-034
    Test cognomen : IBM Tivoli Monitoring V6.2.2(R) Fundamentals
    Vendor cognomen : IBM
    : 101 actual Questions

    blessings today's 000-034 certification.
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    Open source network monitoring and management tools | killexams.com actual questions and Pass4sure dumps

    Andrew R. Hickey, Senior advice Writer

    Network monitoring and management applications can subsist costly and cumbersome, but recently a host of companies absorb sprung forth offering an open source alternative to IBM Tivoli, HP OpenView, CA and BMC -- and they're starting to gain traction.

    The major commercial software vendors, known as the "big four," are frequently criticized for their tall cost and complexity and, in some cases, are chided for being too robust -- having too many features that some enterprise users may find completely unnecessary.

    Many of the open source alternatives are quick to admit that their solutions aren't for everyone, but they bring to the table arguments in their favor that networking pros can't ignore, namely low cost and ease of use.

    "Open source is a huge phenomenon," Zenoss CEO and co-founder Bill Karpovich said. "It's providing an alternative for terminate users."

    Zenoss makes Core, an integrated IT monitoring product that lets IT admins manage the status and health of their infrastructure through a unique Web-based console. The latest version of the free, open source software features automated change tracking, automatic remediation, and expanded reports and export capabilities.

    According to Karpovich, Zenoss software monitors complete networks, servers, applications, services, power and related environments. The biggest benefit, however, is its openness, import that users can tailor it to their systems any route they choose.

    "It's complete enterprise IT monitoring," Karpovich said. "It's network monitoring and management, application management, and server management every through a unique pane of glass."

    Flexibility includedSome users absorb said the Tivolis and OpenViews of the world are hard to customize and very inflexible, but open source alternatives are often the opposite. They are known for their flexibility. "You can expend the product as you want," Karpovich said.

    Nagios developer Ethan Galstad said flexibility is a major influence on enterprises looking to saunter ahead with an open source monitoring project. Nagios makes open source software that monitors network availability and the states of devices and services.

    "You absorb as an terminate user much more influence on the future of the feature set," Galstad said, adding that through the open source community, terminate users can request a feature they want, contend the pros and cons and, in many cases, implement that feature within a relatively short time.

    And for things that Nagios and other open source monitoring tools don't do, terminate users can tie the tools in with other solutions to create the environment they want.

    "There are a lot of hooks," Galstad said.

    Another huge concern for enterprises is the tall cost of network management and monitoring solutions, where a big chunk of money is spent and not every features are used. With open source, Karpovich said, "you're not wasting a lot of money."

    Galstad agreed, adding that enterprises can save a bundle on licensing fees by implementing open source monitoring tools

    Along with Zenoss and Nagios, other open source network monitoring and management tools are gathering steam. The likes of Groundwork OpenSource, Hyperic and Qlusters offer open source alternatives. Some vendors absorb gained enough popularity that they are now being billed the "little four."

    Functionality variesKarpovich is quick to note, however, that the "little four" designation doesn't necessarily stand for the vendors offer as much functionality as their non-open rivals. He plays by the "80-20 rule."

    "We'll carry out 80% of what they do," he said. "We never carry out everything they carry out because a lot of it is irrelevant."

    Ofer Shoshan, founder and CEO of Qlusters, maker of OpenQRM, an open source application and network management and monitoring tool, said recent interest in open source comes from growth in the industry and tools that can ply bigger deployments.

    "In the past, most of the open source tools were aimed at diminutive installations; they were not enterprise grade," Shoshan said. "They were unreliable, unstable and couldn't manage big numbers of systems."

    Support is an issueSome open source monitoring tools offer a smooth of uphold now and can uphold big installations, but soundless there is some smooth of misgiving on the allotment of network pros that putting an open source -- instead of commercial -- tool in permeate of their monitoring may not subsist the best choice, mainly because of a necessity of service and support.

    "No earnest CIO would risk his job deploying a solution that doesn't absorb service and support," Shoshan said. "He would absorb to subsist crazy. And many open source solutions out there didn't absorb enterprise-grade uphold and service."

    Galstad added that this necessity of a "security blanket" could prompt some terminate users to shy away from open source alternatives.

    "There is no one person or one company to choke if something goes wrong," he said. "You might not subsist able to accept the succor that you need."

    "But for those who are willing to carry out a limited research and labor on their own," Galstad continued, "they're much more snug with digging into the problem and finding a solution."


    Tools for managing the desktop | killexams.com actual questions and Pass4sure dumps

    Tools for managing the desktop
  • By Barbara Depompa Reimers
  • Aug 09, 1998
  • As federal agencies struggle to gain better control over the desktop computers on their networks, they are increasingly choosing products and services to succor give them a global, enterprise view of every systems, down to the desktop level.

    The trend toward improving desktop systems management has become increasingly distinguished as federal and private-sector organizations strive to maintain and upgrade ever-growing numbers of PCs. Also, the biggest savings practicable today often reach from improving desktop systems management.

    "With the total cost of ownership of a unique PC hovering in the $10,000 range, any tools that succor reduce that cost must subsist considered," said Joe Quigg, senior vice president of Computer Associates International Inc.'s Federal Division, Islandia, N.Y.

    Analysts utter there are a variety of tasks required to adequately manage desktop systems in any organization. Among the key jobs are:

    * Asset or inventory control, which examines the precise content of each desktop computer, down to the operating system and chip level.

    * Automated software distribution, which delivers software programs and upgrades to users automatically from a centralized location.

    * Well-organized succor desks, which provide uphold when something on a system goes awry.

    * Centralized backup and recovery, which, although not really a systems management issue, is nonetheless critical to maintaining PCs in any organization, said Jonathon Eunice, an analyst for Illuminata Inc., a consulting firm in Nashua, N.H.

    In a few cases, the struggle to adequately maintain PCs can become so powerful that some federal agencies settle to sling in the towel— passing control of desktop systems to third parties via seat management contracts. Typically, seat management contracts encompass a number of information technology services, including hardware and software acquisition, asset management, desktop and network management, operations management, uphold services and technology refreshment, among others.

    Federal users admit that seat management contracts carry out alleviate many of the headaches of PC ownership. That's because these desktop outsourcing contracts enable agencies to focus on their core missions. "We learn exclusively to OAO [Corp.] to ply any problem JPL has regarding desktop systems," said Richard R. Green, program manager for desktop and network services at NASA's Jet Propulsion Laboratory in California

    But whether they settle to buy systems management software or outsource the entire desktop management task, vendors, analysts and current federal users utter there are several options organization must reckon when selecting a desktop management solution. That's because the leading suppliers offer a variety of approaches to succor alleviate the desktop systems management headache.

    JPL's seat management contract covers 8,600 Mac and PC systems and includes options for managing Unix and network systems as needed in the future. OAO, Greenbelt, Md., is currently using Command/Post from Boole & Babbage Inc., San Jose, Calif., to manage JPL's desktop systems.

    Command/Post manages service levels; it doesn't achieve desktop administration. "It's the operations of desktop systems that [are] distinguished to us, especially when those systems contain mission-critical applications," said Saverio Merlo, senior vice president of marketing at Boole & Babbage.

    "Unlike Tivoli [Systems Inc.], CA and others, they don't focus on desktop management itself, only in the context of the desktop as a link in the chain. In their offering, service levels are determined by the weakest link in the chain," Merlo said.

    According to JPL's Green, OAO brings innovative systems management approaches that would absorb been difficult for JPL to implement but that are relatively facile for the contractor to add, such as remote network management and advanced systems administration. OAO officials said the company provides a complex integration of the best-of-breed tools to manage systems for their clients. "Many organizations sling money at tools, but it really takes three key things— people, processes and tools— to successfully manage every of the systems on a network," said Ed Blanchard, vice president of the Desktop Networking Service Division of OAO.

    For OAO, the first two components are as distinguished as the third. "A fool with a tool is just a faster fool," Blanchard said.

    In all, JPL's seat management contract features 44 metrics by which OAO's performance is measured.

    Before JPL decided to outsource desktop systems management, Green maintains that such an ad hoc collection of computers made it difficult for anyone at JPL to accept a transparent picture of desktop computing costs. "But they know those costs were higher than what JPL is currently spending on this contract," Green said. By charging a fixed unit cost to each user for each desktop computer, "it's quite visible now what each system really costs. And this helps users achieve informed decisions about adding more computers," he said.

    It's a Modular World

    But among those organizations that pick to continue supporting their systems in-house, some believe a modular approach to systems management is best. That's the understanding the federal Drug Enforcement Administration (DEA) chose Tivoli's TME to succor manage every its systems. The agency is convinced that Tivoli, Austin, Texas, offered the best systems management solution "because it's structured to enable us to pick the modules they necessity to achieve into set and soundless add other products, even from other suppliers as required for special security purposes, for example," said Ned Goldberg, chief of operations and uphold for the DEA's IT organization.

    The DEA has 5,000 nodes in a shared desktop environment, located in 450 sites throughout the world. But by 2002, the map is for every desktop in the agency to absorb a PC, which would increase the total to 10,000 systems.


    Managing skepticism | killexams.com actual questions and Pass4sure dumps

    Managing uncertainty. Check it out:

    (New Straits Times Via Thomson Dialog NewsEdge) THEY absorb many outstanding statesman whom they revered. In my profile Six history lessons in the early 70s, one that fascinated me was Benjamin Disraeli, (British premier 1804-1881). One of his celebrated statements was: "What they anticipate seldom occurs; what they least hope generally happens". This quote has a lot of relevance to the know-how and soul of risk management because its fundamentals are not complete without the understanding of "uncertainty" or "unknown". Indeed, risk is every about the skepticism of risk occurring. If they know the risk will occur, they will not carry out the deal or execute the operation.

    The fact is that they carry out not know, and only hope that it does not occur.

    For this reason, they diligently apply every the known ways of managing the skepticism of risk occurring. Obviously, it is not facile to avert the risk from occurring, especially if it is something beyond their control. But if it does occur, the negative repercussion would subsist minimised to that they could accept or live with. After all, they are not too concerned about the risk per se. Rather, their focus is on the repercussion of the risk that may subsist negative for us. If the repercussion is positive, or they gain from the risk, then of course that would subsist welcomed. WHAT CAUSES UNCERTAINTY? skepticism crops up because of few factors that haunt their mindset, attitude or opinion. They include: * skepticism due to impoverished overall decision and wrong opinion: The feeling that the option or decision they prefer would subsist the wrong one; * skepticism due to rationale or relationship: The rationale or relationship of the issue being studied might subsist seen from the wrong perspective where they may absorb inadequate parameters; * skepticism due to doubt in the analysis process: The model/guide-values for their evaluation of the issue may subsist irrelevant or wrong; * skepticism due to inadequate sampling: The statistics that they expend for the assessment of the theme matter might subsist insufficient, unrealistic, incomplete or outdated; and * skepticism due to errors and biases: The analysis done for the samplings taken might subsist tainted with errors and impoverished human judgment.

    The above five factors causing the doubt. The elements of unknown/uncertainty in us can turn haywire to their risk management programme. To minimise such unknown, it is vital to ensure that these issues are adequately addressed.

    RISK OCCURS FROM THE UNKNOWN. It is not facile to manage unknown events, as some of the risks are beyond human controls, such as flood, earthquake, tornado and robbery. However, managing the negative financial or non-financial repercussion might subsist facile to strategise. For example, they can preserve every their precious assets on higher floor, so that should a flood soundless occur after a massive rain, the negative financial repercussion and damage by water would subsist minimised. Or they would install an warning system in their premises so that should the robbers came unannounced, they might abort the raid because the warning bell was triggered. Thus the risk of robbery is mitigated. Assuming they absorb taken the burglary insurance cover, should the robbers succeeded in carting away the valuables, they would absorb the financial loss minimised because they absorb insured the valuables and could pretension back the amounts from the insurance company.

    THE PAST AS GUIDES TO saunter FORWARD. Machiavelli, an Italian philosopher and statesman who lived from 1446 to 1507, once said, "Wise men say, and not without reason, that whoever wished to foresee the future might consult the past." More often than not, risk managers dependence a lot on past data and historical events to chart forecast and assess the various risks inherent in any organisation. A lot of veracity prevailed in the quote by Machiavelli. In some instances, history tends to repeat itself because the very kindly of risk could surface again at some later time, if such risk is then not effectively managed using the lessons learnt from the past risk occurrence. RISK MANAGEMENT IS A PROACTIVE ART. Of course, they must subsist mindful that risk management is not about history alone. It should absorb balanced proactive feature - using the previous risk occurrences to prognosticate what would betide in both the short and long age in the future. It is not a fallacy to condition that risk management is about touching forward. It is about preparing and predicting the future condition of events and operations using past patterns or historical trends in supporting such predictions.

    SIX WAYS TO deal THE UNKNOWN. How carry out they deal risk? There are many ways, but the more favorite options are: i) Avoid. They can simply avoid the risk and carry out not carry out the deal. But this is not really risk management since there will subsist nothing to manage anyway, given that the transaction or operation is aborted. But not everything is as simple as that. There are risks that they absorb to mug everyday, and as allotment of their route of doing the trade and operations. ii) Share. They can partake the negative risk repercussion by putting up a strategic alliance, joint-venture or merging their smaller outfits to bigger outfit that can withstand more risk or cushion the negative impacts. There is veracity in the adage of "strength in unity" and the bigger the size, the stronger it should be. iii) Transfer. A friendly specimen of risk transfer is using insurance. An insurance policy taken to cover the damage and loss by fire would provide solace to the property owner as he would subsist able to receive the financial compensation benefits from the insurance company. However, not every risks could subsist insured. They are soundless left at the charity of the non-insurable risks. So, the necessity to ensure that they absorb a friendly risk management map to address those non-insurable risks is very critical for the success of any organisation. iv) Reduce. They can reduce the likelihood of the risk to occur, and minimise the negative repercussion of the risk by either cutting down on their exposure or involvement in the operations.

    v) Accept. Many risks that haunt us are common day-to-day events that cannot subsist avoided, which they address as the cost of doing that kindly of business. They necessity to accept those risks as a standard route to carry out the business. An specimen of this kindly of risk is a supermarket's cashier with a minor cash shortage at the terminate of the day's takings. vi) Prevent. Some forms of risk can subsist prevented from occurring. For example, theft of valuable asset from a sturdy leeway is a risk. One route to avert this is to ensure that no one can enter the sturdy leeway alone, and a closed-circuit TV must subsist installed for monitoring purpose. There must subsist at least two people holding the keys and going in at any time. The writer is chief risk officer of a commercial bank and author of Enterprise-wide Risk Management Made Easy. He can subsist reached at e-mail: jerwin001@hotmail.com. allotment two of this article will appear next Saturday.

    Copyright 2006 The current Straits Times Press (Malaysia) Berhad. Source: financial Times Information Limited - Asia Intelligence Wire.



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