What do we do about Risk Management?

Risk management is an activity directed towards the assessing, mitigating and monitoring of risk. In most day-to-day cases the acceptable risk may be determined low or close to zero. Risks can come from accidents, natural causes and disasters as well as deliberate attacks from an outside source. Technically, the notion of risk is independent from the notion of value and, as such, possible occurrences may have both good and bad consequences.

Consider the following when establishing risk areas or activities;
1. Identify risk in a selected or selected area of interest,
2. Document the identified risk by using for example a Process Flow Diagram method,
3. Establish the following:
- the scope of the risk management activities,
- the the identity and objectives of nay stakeholder requirements, and
- on what basis the risks will be evaluated, constraints.
4. Define a framework for the above activities and develop an agenda for identification and review of existing and future risks.
5. Develop what methods to use to analyze existing risks involved in your risk areas and its processes.
6. When mitigate risks we can consider using convinient and available technological, human and organizational resources.