Identification of Key Success Factors for the Successful Implementation of the Risk Management System (PT Jasa Raharja (Persero) D.I Yogyakarta Branch)

Abstract

Every daily activity, both personal and group life, certainly involves risks that are directlyproportional to the sustainability of the company. The more risks, the more potential lossesfor the company which can certainly have a detrimental impact. This is realized byPTJasaRaharja (Persero) D.I Yogyakarta Branch to overcome, control, and avoid the risks that arepresent by implementing a risk management system. The implementation of goodriskmanagement can help companies reduce disruptions or obstacles in their operations andthereare many more goals in implementing a risk management system. The method in this studyuses an analysis method using the SmartPLS v.4.1.0.4 application with results indicatingthat there are 5 key factors for success in implementing a risk management system, includingthebasic principles of risk management, risk culture and communication, risk management processes, management and supervision, and tools and techniques. In the implementationofthe risk management system by PT Jasa Raharja (Persero) D.I Yogyakarta Branch, it resultedin only one of the five factors was significant in the success of implementingariskmanagement system, namely the tools and techniques factor.