Simply put, risk management is a two-step process - determining what risks exist in a given situation, ie a business, then handling those risks in a way best-suited to achieve the desired objectives.
Many organisations are subject to many risks in the course if their operations.
Those risk vary greatly from organisation to organisation, however there are a number of principles and approaches that are common to all of those organisations that help it identify, analysis manage and deal with risk.
In all cases the organisations that practise risk management techniques are looking to protect their ability to produce a desired outcome, or minimize the impact of a negative happening on its reputation, production outputs, or profitability.
Ultimately, it is all about assessing and managing risk.
It is this risk assessment and management that we examine in this Professional IQ College short course.