- "Risk management is the identification, evaluation, and prioritization of risks... followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities."
Identifying potential risks and developing a risk management plan to ensure the success of the organizational change management program.
Risk Assessment: The process of identifying, analyzing, and evaluating the potential risks and hazards that could threaten an organization's operations, assets, or reputation.
Risk Analysis: The process of examining and evaluating the potential consequences of identified risks, and the likelihood that the risk will occur.
Risk Mitigation: The process of implementing strategies and measures to reduce the impact of identified risks.
Risk Evaluation: The process of assessing the effectiveness of implemented risk management strategies and making any necessary adjustments.
Risk Communication: The process of communicating relevant risk information to stakeholders, including employees, customers, partners, and regulators.
Risk Governance: The system of policies, processes, and procedures that ensure effective risk management across an organization.
Business Continuity Planning: The process of developing a plan to ensure the continuity of critical business operations in the event of a disruption.
Cybersecurity: The protection of digital assets from cyber threats, including breaches, malware, phishing, and other forms of cyberattacks.
Disaster Recovery: The process of restoring critical systems and operations to normal after a catastrophic event, such as a natural disaster, cyberattack, or physical infrastructure failure.
Compliance Management: The process of ensuring an organization adheres to relevant laws, regulations, and industry standards.
Enterprise Risk Management (ERM): The holistic approach to identifying, assessing, and managing risks across an entire organization.
Crisis Management: The process of responding to and managing crises that threaten an organization's reputation, financial stability, or operations.
Insurance and Risk Financing: The process of financing potential losses through insurance policies, hedging strategies, or other means.
Legal and Regulatory Risk Management: The process of identifying and managing legal and regulatory risks associated with an organization's operations.
Supply Chain Risk Management: The process of identifying and managing risks associated with an organization's supply chain, including supplier failure, transportation disruptions, and quality control issues.
Financial Risk Management: This type of risk management is concerned with managing the financial risks that an organization can face, including credit risk, interest rate risk, liquidity risk, and market risk.
Operational Risk Management: This type of risk management is concerned with managing the risks associated with the daily functions of an organization, including human error, system failure, and external events.
Strategic Risk Management: This type of risk management is concerned with identifying and managing risks associated with the strategic goals and objectives of an organization.
Compliance Risk Management: This type of risk management is concerned with ensuring that an organization is in compliance with legal and regulatory requirements and avoiding penalties.
Reputation Risk Management: This type of risk management is concerned with managing risks related to an organization's reputation, including public relations, branding, and marketing.
Information Security Risk Management: This type of risk management is concerned with protecting the organization's information systems and sensitive data from unauthorized access, theft, and loss.
Supply Chain Risk Management: This type of risk management is concerned with managing risks associated with the supply chain, including supplier quality, delivery, and disruption.
Environmental Risk Management: This type of risk management is concerned with managing environmental risks that an organization can face, including pollution, waste management, and sustainability.
Project Risk Management: This type of risk management is concerned with identifying and managing risks associated with specific projects or initiatives.
Legal Risk Management: This type of risk management is concerned with managing legal risks that an organization can face, including compliance with laws and regulations, lawsuits, and legal issues with employees or stakeholders.
- "...risks (defined in ISO 31000 as the effect of uncertainty on objectives)..."
- "Risks can come from various sources including uncertainty in international markets, threats from project failures, legal liabilities, credit risk, accidents, natural causes and disasters, deliberate attack from an adversary, or events of uncertain or unpredictable root-cause."
- "Negative events can be classified as risks while positive events are classified as opportunities."
- "Risk management standards have been developed by various institutions, including the Project Management Institute, the National Institute of Standards and Technology, actuarial societies, and ISO standards."
- "Strategies to manage threats typically include avoiding the threat, reducing the negative effect or probability of the threat, transferring all or part of the threat to another party, and even retaining some or all of the potential or actual consequences of a particular threat."
- "As a professional role, a risk manager will 'oversee the organization's comprehensive insurance and risk management program, assessing and identifying risks that could impede the reputation, safety, security, or financial success of the organization'."
- "Risk Analysts support the technical side of the organization's risk management approach... analysts share their findings with their managers, who use those insights to decide among possible solutions."
- "Methods, definitions and goals vary widely according to whether the risk management method is in the context of project management, security, engineering, industrial processes, financial portfolios, actuarial assessments, or public health and safety."
- "Certain risk management standards have been criticized for having no measurable improvement on risk, whereas the confidence in estimates and decisions seems to increase."
- "Opportunities are uncertain future states with benefits."
- "See also Chief Risk Officer, internal audit, and Financial risk management ยง Corporate finance."
- "Risk managers develop plans to minimize and/or mitigate any negative (financial) outcomes."
- "The primary goal of risk management is to minimize the probability or impact of unfortunate events or maximize the realization of opportunities."
- "Risk evaluations are conducted to assess and identify risks that could impede the reputation, safety, security, or financial success of the organization."
- "Managers use insights from risk analysts to decide among possible solutions."
- "The main components of risk management include the identification, evaluation, and prioritization of risks, followed by the application of resources to minimize, monitor, and control the probability or impact of events."
- "Negative consequences of threats can include financial, reputational, safety, security, or operational impacts."
- "ISO standards provide quality management standards to help work more efficiently and reduce product failures."
- "Negative events can be classified as risks while positive events are classified as opportunities."