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Vocabulary Term Details

Risk management

Definition (http://en.wikipedia.org/wiki/Risk_management)

Risk management is the identification, assessment, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives, whether positive or negative) followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities. (Wikipedia)

Preferred Units: N/A

Scope Note:
N/A

Broader TermsNarrower TermsRelated Terms
Management
Flood risk management
Insurance
Risk assessment
Safety

This term is used for the following terms: 
N/A

Approved Date
06-Nov-2013

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