What is the meaning of risk management?

QuestionsWhat is the meaning of risk management?
Nikhil Rawat asked 1 year ago
   
3 Answers
Priya Vishwas answered 1 year ago
Risk management is the process of deciding how much risk can be accepted in a situation and how to control, reduce and manage that risk. In essence, it is about understanding the severity of a given situation and making an informed decision on whether or not it is worth the potential consequences.  
Akshaj Singh answered 1 year ago
Risk management is the process of understanding and managing the risks associated with an activity or event. It is the act of assessing, controlling and managing these risks in order to reduce the total risk of an activity or event.  
Deepak Goyal answered 1 year ago
Risk management is a systematic process of identifying, evaluating and controlling the risks involved in a given situation. It refers to the study of managing risks by identifying, assessing, and reducing unexpected events that may cause harm or loss to an enterprise.