Risk Management 18
Risk Management 18 :
Risk Management is defined by the Government Accountability Office (GAO) as A continuous process of managing-through a series of mitigating actions that permeate an entity's activities-the likelihood of an adverse event and its negative impact. Risk Management is founded in the capacity for all levels of government to identify and measure risk prior to an event, based on credible threats/hazards, vulnerabilities, and consequences, and to manage the exposure to that risk through the prioritization and implementation of risk-reduction strategies. The actions to perform Risk Management may well vary among government entities; however, the foundation of Risk Management is constant. (DHS, TCL, 2007, p. 43)
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