Why Must Risk Management Procedures Be Followed?


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Risk management processes are very important for organizations of most types and almost any size. This is especially true for profit-driven businesses that face inherent risks in their operational and strategic decision-making. Risks or threat events pose considerable uncertainty and may prevent the organization from achieving its objectives. Effective risk management procedures include risk identification, risk assessment, risk avoidance, and risk mitigation.

For more information on these phases of risk management, as well as information on the development of an organizational risk management policy, visit Risk Management Certification.

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