Numerous corporations have established a risk management process. Learn what that process entails and how to anticipate and manage threats to business success. Risk management helps to identify steps to avoid, and/or eliminate or reduce impact of risks occurring. Every business must be prepared for issues that may arise. The process is comprised of the following:
1 Defining the context of decisions and related goals
2 Identifying the risks associated with the goals
3 Analyzing and assessing the identified risks
4 Developing alternative actions
5 Making a decision among alternatives and implementing that decision
6 Monitoring and reporting