In risk management, an inherent risk is an untreated or raw risk before any measures are taken to mitigate the likelihood or impact of the risk. To manage risks, organizations first identify risks, analyze and evaluate the risks and then various risk control measures...
What is a risk heat map? Organizations often perform a risk assessment to identify potential risk factors, analyze and evaluate the risks, and determine appropriate ways to control or manage the risks. Using a risk heat map, the result of a risk assessment process can...
What is a risk register? A risk register is a document that acts as a repository of all identified risks. It also contains additional information about each risk, e.g. the category of the risk, name and a brief description of the risk, probability that the risk can...
There are different types of business risks. Every business should have risk management strategies to identify, assess or prioritize the risks and monitor, minimize or control the impact of the risks. If business risks are not managed effectively, it may lead to loss...
A business may be exposed to various factors that can impact the operations of the business. If the risk factors are not mitigated in time, it may lead to loss of productivity or even cause the business to fail. These business risks may range from external risks,...
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