Answer:-
Risk management is the process of identifying, assessing, and mitigating potential risks that could impact a project, business, or investment. It helps organizations prepare for uncertainties by analyzing possible threats and developing strategies to minimize their effects. Common risks include financial losses, security breaches, operational failures, and market fluctuations. Businesses use risk management frameworks like SWOT analysis, risk assessments, and contingency planning to stay prepared. Effective risk management ensures stability, reduces losses, and improves decision-making. It’s essential for businesses, investors, and project managers to proactively manage risks rather than react to crises. Need tips on managing specific risks? Let me know!
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