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Introduction to risk management

Trading 6 days ago
  • User
    Liveth
    6 days ago

    Let's dive into introduction of risk management.

    This is often tought as part of business, finance, insurance, project management or even engineering program.

    Is the foundation of learning how to identify assess and control risk that could negatively impact individual business or organization.

    So we can define risk management as a systematic process of identifying, analyzing and responding to potential events that could harm assets profits, people or operations while maximizing opportunities.

     

    There are key component.

    Rist identification: spotting what could go wrong.

    Rist control: deciding how to prevent reduce or transfer the risk 

    Risk assessment: meaning how likely and severe the risk is.

    Monitoring and review: checking regularly if the plan is effective.

    Examples 

    In business: A company might buy insurance to protect against damage.

    In finance: an investor might diversify to avoid losing all money in the market. DM me if you need more clarification, please don't forget to like, comment and share, 

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