Introduction to the Risk Management Process

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Introduction to the Risk Management Process

Viewing risk management as a process helps set priorities and assists in ensuring a comprehensive risk management effort. There are several different approaches to the risk management process. The approach that is proposed in this course includes these five steps:
  1. Identify and assess risks.
  2. Consider alternative risk management treatments.
  3. Select what appears to be the best risk management treatment or combination of treatments.
  4. Implement the selected treatment(s).
  5. Monitor and improve the risk management program.