Cher Bourg Stocks

Risk Management

Risk Management is the systematic process of identifying, assessing, and prioritizing risks followed by the coordinated implementation of strategies to minimize, monitor, and control the probability or impact of unforeseen events. It is a crucial aspect of organizational operations, ensuring that potential threats to assets, individuals, or the overall business are recognized and mitigated effectively.

The process typically involves four key steps: risk identification, where potential risks are recognized; risk assessment, which involves analyzing the likelihood and impact of these risks; risk mitigation, where strategies are developed to reduce or eliminate risks; and risk monitoring, where ongoing review and assessment of risks and the effectiveness of mitigation strategies take place.

Effective risk management helps organizations safeguard their resources, enhance decision-making, comply with regulations, and improve overall performance, contributing to the achievement of their objectives while reducing the potential for significant negative outcomes.