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MY ASSIGNMENT SERVICES Fundamentals Of Risk Management
WHAT IS RISK MANAGEMENT? The process of finding and managing risk occurred by an uncertain event is termed risk management. By identifying organizational threats professionals can enhance the earning and capital of the firm. After analyzing the threats effective steps are taken to eliminate or reduce them.
WHAT IS THE IMPORTANCE OF RISK MANAGEMENT? • Risk management put an effect on all aspects of a project, such as - budget, scope, quality, duration, etc. • It increases profitability in an organization. • It saves an organization from negative events.
DIFFERENT ELEMENTS INCLUDED IN RISK MANAGEMENT. • Various elements of risk management are noted below. • Qualitative risk analysis • Risk management planning • Quantitative analysis • Risk identification • Respond to risk • Monitoring and controlling
PROCESS OF RISK MANAGEMENT. • The process of risk management is as follows. • Identification of risk • Analysis of risk • Planning for eliminating the risk • Monitoring the risk
PROCESS OF RISK MANAGEMENT. • The process of risk management is as follows. • Identification of risk • Analysis of risk • Planning for eliminating the risk • Monitoring the risk
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