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Example of Risk Management

Risk management is a broad category of actions, policies, and other options used to reduce risk in a business environment. A risk manager will assess the potential for loss in a given situation, and implement a raft of these approaches to minimize the risks related to conduct of business. Risk management is intended to be a holistic approach to risk issues, covering all aspects of the situation.

Examples of Risk Management:

A risk manager will:

Limit delegations to spend money and purchase goods
Seal off areas in a workplace deemed unsafe
Issue guidelines for work practices
Require machine operators to conduct preliminary checks on equipment

Image Example of Risk management:

Example of risk management: NASA's illustration showing high impact risk areas for the international space station.

Risk identification.

Investment process focused on risk measurement & management.