Risk identification methods

Abstract

"risk" -Noun “A situation involving exposure to danger”

With every action performed there is a potential risk, regardless of the size, however, the chance of the risk being a problem can be mitigated. For every type of organization, it is most likely that they have in one way or another, implemented the use of risk management. Risk management is a crucial tool in order to identify and quantify the positive and negative risks, as well as avoiding risk outputs and even being able to reduce the risks before they are present. This should be followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities