Risk Assessment: A Critical Component of Risk Management

Risk

How to rank risks by likelihood and impact.   Every organization is continuously exposed to a myriad of both internal and external risks that may affect its operation or the fulfillment of its objectives. Identification, analysis, and evaluation of these risks are the only ways to understand and measure the impact of the risks involved and to decide on the appropriate measures and controls to manage them.  Source Rough Notes Magazine - Author Robert Higgins, CIC, CRM, CPCU, ARM, ARMP, FRM, CRIS

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