Definitions for risk management
risk man·age·ment

WiktionaryRate this definition:5.0 / 1 vote

1. risk managementnoun

   The process of determining the maximum acceptable level of overall risk to and from a proposed activity, then using risk assessment techniques to determine the initial level of risk and, if this is excessive, developing a strategy to ameliorate appropriate individual risks until the overall level of risk is reduced to an acceptable level.

2. Etymology: This term relates very specifically to the field of study denoted by the term and as such is a usage specific term. The formal definition of risk is used.

WikipediaRate this definition:0.0 / 0 votes

1. Risk management

   Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities. Risks can come from various sources including uncertainty in international markets, threats from project failures (at any phase in design, development, production, or sustaining of life-cycles), legal liabilities, credit risk, accidents, natural causes and disasters, deliberate attack from an adversary, or events of uncertain or unpredictable root-cause. There are two types of events i.e. negative events can be classified as risks while positive events are classified as opportunities. Risk management standards have been developed by various institutions, including the Project Management Institute, the National Institute of Standards and Technology, actuarial societies, and ISO standards (quality management standards to help work more efficiently and reduce product failures). Methods, definitions and goals vary widely according to whether the risk management method is in the context of project management, security, engineering, industrial processes, financial portfolios, actuarial assessments, or public health and safety. Certain risk management standards have been criticized for having no measurable improvement on risk, whereas the confidence in estimates and decisions seems to increase.Strategies to manage threats (uncertainties with negative consequences) typically include avoiding the threat, reducing the negative effect or probability of the threat, transferring all or part of the threat to another party, and even retaining some or all of the potential or actual consequences of a particular threat. The opposite of these strategies can be used to respond to opportunities (uncertain future states with benefits). As a professional role, a Risk Manager will "oversee the organization's comprehensive insurance and risk management program, assessing and identifying risks that could impede the reputation, safety, security, or financial success of the organization", and then develop plans to minimize and / or mitigate any negative (financial) outcomes. Risk Analysts support the technical side of the organization's risk management approach: once risk data has been compiled and evaluated, analysts share their findings with their managers, who use those insights to decide among possible solutions. See also Chief Risk Officer, internal audit, and Financial risk management § Corporate finance.

WikidataRate this definition:0.0 / 0 votes

1. Risk management

   Risk management is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities. Risks can come from uncertainty in financial markets, project failures, legal liabilities, credit risk, accidents, natural causes and disasters as well as deliberate attack from an adversary, or events of uncertain or unpredictable root-cause. Several risk management standards have been developed including the Project Management Institute, the National Institute of Standards and Technology, actuarial societies, and ISO standards. Methods, definitions and goals vary widely according to whether the risk management method is in the context of project management, security, engineering, industrial processes, financial portfolios, actuarial assessments, or public health and safety. The strategies to manage risk typically include transferring the risk to another party, avoiding the risk, reducing the negative effect or probability of the risk, or even accepting some or all of the potential or actual consequences of a particular risk.

U.S. National Library of MedicineRate this definition:0.0 / 0 votes

1. Risk Management

   The process of minimizing risk to an organization by developing systems to identify and analyze potential hazards to prevent accidents, injuries, and other adverse occurrences, and by attempting to handle events and incidents which do occur in such a manner that their effect and cost are minimized. Effective risk management has its greatest benefits in application to insurance in order to avert or minimize financial liability. (From Slee & Slee: Health care terms, 2d ed)

Dictionary of Military and Associated TermsRate this definition:0.0 / 0 votes

1. risk management

   The process of identifying, assessing, and controlling risks arising from operational factors and making decisions that balance risk cost with mission benefits. Also called RM. See also risk.

How to pronounce risk management?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say risk management in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of risk management in Chaldean Numerology is: 9

2. Pythagorean Numerology

   The numerical value of risk management in Pythagorean Numerology is: 6

Examples of risk management in a Sentence

1. Adam Faber:

   This proposed settlement will bring the county's involvement with this lawsuit to a close, as always, litigation settlements are made with risk management principles in mind. We recognize that the family and friends of Manuel Ellis are grieving, and we hope this settlement will give them some measure of closure.

2. Ryan Sweet:

   You can make a strong case either way for the Fed to begin raising interest rates or waiting, the prudent risk management approach would argue for them to hold off, but if the Fed was really data dependent there is a very a strong case to raise rates on Thursday.

3. Makenosi Maroo:

   In anticipation of the volumes expected to be imported into South Africa, the (GMO) Executive Council has approved the adjustment of a permit condition which relates to the handling requirement, there is therefore no intention to relax safety assessment or risk management procedures prescribed.

4. Thomas DiNapoli:

   The company has been a laggard on financial performance, climate risk management and lobbying disclosure for quite some time now, its peers in Europe, many of whom have independent board chairs, are outperforming Exxon on all these.

5. Mike Alix:

   The benefits of CCAR are an absolute rise in capital ratios and risk management.

References

1. ^ Wiktionary
   https://en.wiktionary.org/wiki/Risk_Management
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Risk_Management
3. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=risk management
4. ^ Dictionary of Military and Associated Terms
   https://www.tradoc.army.mil/wp-content/uploads/2020/10/AD1029823-DOD-Dictionary-of-Military-and-Associated-Terms-2017.pdf