Risk Management 77
Risk Management 77 : The process of intervening to reduce risk - the making of public and private decisions regarding protective policies and actions that reduce the threat to life, property, and the environment posed by hazards. Generally, the risk management process attempts to answer the following questions: (1) What can be done? (2) What options or alternatives are available and what are their associated tradeoffs in terms of costs, benefits, and other (current and future risks? (3) What are the effects of current decisions on future options? (Shaw, 1999)
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