Risk Management 66
Risk Management 66 : The culture, processes and structures that are put in place to effectively manage potential opportunitie and adverse effects. As it is not possible or desirable to eliminate all risk, the objective is to implement cost effective processes that reduce risks to an acceptable level, reject unacceptable risks and treat risk by financial interventions i.e. transfer other risks through insurance or other means, or by organisational intervention i.e. BCM. See: Risk Control
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