Risk management

What is risk management?

What is risk management? Managing risk assists organisations in setting strategy, achieving objectives and making informed decisions.
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According to Wikipedia, 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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