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Risk Management is the practice of identifying, assessing and controlling treats of organization’s earning and capital. These threats may arise from various sources, which include financial uncertainty, legal liabilities, management errors, natural disaster, etc. As a field of study, it is very competitive, and students often require dedicated professional help. Myhomeworkhelponline.com understands this requirement and offer Risk Management Assignment help to students pursuing the subject.
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Steps of risk management process
The first step involves an organization identifying and defining potential risk that may have a negative impact on a particular company process or project.
Once identified the company determines odds and consequence of the risk. This step aims to establish specific instances of risk and how it can influence the company’s objectives
Risks are further evaluated in this step, and the company decides where that risk is acceptable or not.
During this step, the company evaluates highest rank risks and develops plans to alleviate them. These plans include risk mitigation processes, risk prevention tactics, etc.
In this fifth and final step, the company as part of mitigation plans continuously monitors new and existing risks.
Few different types of Risk Management:
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