Risk_Management_Processes.pptx jsjsjsjjjsj

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1. Risk Management Processes Overview of the steps involved in managing risks effectively.

2. 1. Risk Identification Recognize potential risks that could negatively impact objectives. Methods: Brainstorming, SWOT, Checklists.

3. 2. Risk Assessment Analyze risks to determine their potential impact and likelihood. Approaches: Qualitative and Quantitative analysis.

4. 3. Risk Prioritization Rank risks based on severity and likelihood to focus on the most critical ones.

5. 4. Risk Mitigation/Response Develop strategies to manage risks: - Avoidance - Reduction - Transfer - Acceptance

6. 5. Implementation of Mitigation Plans Put the chosen risk mitigation strategies into action.

7. 6. Monitoring and Review Continuously monitor risks and review their impact over time.

8. 7. Communication Ensure effective communication with stakeholders throughout the risk management process.