- Risk management is the process of evaluating the chance of loss or harm and then taking steps to combat the potential risk.
- An example of risk management is when a bank employee reviews a potential loan to determine what the chances are that the buyer won't pay it back in order to decide how to proceed with granting the loan and how much to charge in interest.
- An example of risk management is when a person evaluates the chances of having major vet bills and decides whether to purchase pet insurance.
risk management - Computer Definition
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risk management - Legal Definition
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