May 21, 2024

Risk Management

Risk management is a process used to identify, assess, and prioritize risks to the success of an organization or project in order to minimize negative impacts and maximize opportunities. It involves analyzing factors that may affect the organization and creating plans to address any potential issues. This includes understanding potential threats or hazards, evaluating current risk levels, finding ways to reduce risk, and implementing strategies to reduce the likelihood of events that could result in losses. Risk management helps organizations maintain control of their environment, identify potential risks before they occur, and manage the consequences of any risks that do occur.

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