Riskmanagement
Risk management is the systematic process of identifying, assessing, prioritizing, and addressing potential events that could affect an organization's objectives. It seeks to reduce the likelihood and impact of negative events while recognizing opportunities that could improve outcomes. The practice is applied across industries and at organizational, project, and operational levels.
Its core steps typically include risk identification, risk assessment (analyzing likelihood and consequence), risk prioritization, and
Several frameworks guide risk management, notably ISO 31000 and the Committee of Sponsoring Organizations (COSO) Enterprise
Applications span enterprise risk management (ERM), project risk management, safety, and information technology risk management. Tools
Challenges include data quality, changing threats, limited resources, and organizational culture. Effective risk management requires ongoing