What are the various approaches to risk management?

Questions › What are the various approaches to risk management?
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Deepak Goyal asked 2 years ago
   
3 Answers
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Akshaj Singh answered 2 years ago
Risk management is an important component of everyday life. It's something that all businesses, organizations, and individuals need to stay safe and secure. There are a number of different approaches to risk management including: risk assessment, risk mitigation & risk avoidance.  
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Nikhil Rawat answered 2 years ago
There are various approaches to risk management such as:
  • Risk retention
  • Risk sharing 
  • Controlling the risk 
  • Combination of strategies to control risk
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Priya Vishwas answered 2 years ago
Risk management is often misunderstood in today's society. There are various approaches to risk management that can be employed depending on the company such as avoiding risk, transferring risk, or sharing risk.