Risk management is the process of identifying potential risks and/or harms and creating a plan to prevent the risk from happening or reducing the risk as much as possible. There are different types of ...

For example, time-critical risk management is used when there is little time to make decisions, while strategic risk management is used when there is enough time to make an in-depth analysis.

This leads to a difficult task for the risk management function to interpret what has been obtained as input to the identification and assessment process.

If you’re in a high-reliability industry with a heavy process-oriented focus, one of the most useful frameworks you can use has to do with operational risk.

For example, if a risk could significantly disrupt operations but is too expensive to avoid or transfer, reducing the risk might be the best course of action.

Risk management is an integral part of health care and, in particular, nursing. By identifying risks and determining how to prevent them, nurses and administrators can expect improved outcomes.

If most midsize companies have a formal risk management process, why did so many fail even in pre-pandemic years? The problem is that risk heat maps — many companies’ primary tool for ...

The ITS Risk Assessment (ITRA) process seeks to provide an intuitive and detailed process for overviewing the implementation of a new IT application or device which contains private/confidential data ...