Risk Management

Risk management is the process of minimizing or mitigating risk. It starts with identifying and evaluating risk, followed by optimal use of resources to monitor and minimize the same.

Risk generally results from uncertainty. In organizations, this risk can come from uncertainty in the marketplace (demand, supply and Stock market), failure of projects, accidents, natural disasters, etc. Different tools deal with the same depending upon the kind of risk.

Ideally, in risk management, a risk prioritization process is followed in which those risks that pose the threat of great loss and have a great probability of occurrence are dealt with first.