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- Risk management is the process of identifying, evaluating, and managing the effects of uncertainty on objectives12. It involves the use of resources to minimize, monitor, and control the probability or impact of risks132, or to maximize the realization of opportunities1. Risk management can be applied to different domains, such as financial, legal, strategic, and security45. Risk management strategies include avoidance, retention, sharing, transferring, and loss prevention and reduction5.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.en.wikipedia.org/wiki/Risk_managementRisk management is the continuing process to identify, analyze, evaluate, and treat loss exposures and monitor risk control and financial resources to mitigate the adverse effects of loss.www.marquette.edu/riskunit/riskmanagement/whati…Risk management is the process of identifying, assessing, and minimizing the impact of risk. In other words, it’s a way for organizations to identify potential dangers and threats and take steps to eliminate or reduce the chances of them happening. If they did end up happening, risk management helps ensure that adverse effects are minimal to none.safetyculture.com/topics/risk-management/Risk management is the process of identifying, assessing and controlling financial, legal, strategic and security risks to an organization’s capital and earnings. These threats, or risks, could stem from a wide variety of sources, including financial uncertainty, legal liabilities, strategic management errors, accidents and natural disasters.www.ibm.com/topics/risk-managementRisk management is the process of identification, analysis, and acceptance or mitigation of uncertainty in investment decisions. Risk is inseparable from return in the investment world. Risk management strategies include avoidance, retention, sharing, transferring, and loss prevention and reduction.www.investopedia.com/terms/r/riskmanagement.asp - People also ask
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Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.
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