Definition of Risk management:
(in business) the forecasting and evaluation of financial risks together with the identification of procedures to avoid or minimize their impact.
The identification, analysis, assessment, control, and avoidance, minimization, or elimination of unacceptable risks. An organization may use risk assumption, risk avoidance, risk retention, risk transfer, or any other strategy (or combination of strategies) in proper management of future events.
How to use Risk management in a sentence?
- I like to invest my funds wisely, but I want to leave the details and headaches of investing and risk management to a professional.
- Too many shops are currently executing uncertainty management rather than risk management.
- The company couldnt afford any more losses like the ones they had suffered in the previous quarter, so they sought out the best and brightest risk management experts to help them get back on track.
- The job of the fraternity member in charge of risk management was to look after his fraternity brothers at the different functions on campus so not to cause risk to property or person.
Meaning of Risk management & Risk management Definition