Risk Management

Risk Management is a very broad term and could not be summarized in one sentence.
However we still can say risk management is a concept of managing risks in diversified areas which might or might not be interrelated.

Risk Management is a successful venture only if it is associated with all aspects of organizational policies and leads to an organizational security.

Any risk originating will ultimately lead to organizational loss so risk has to be handled carefully and taking into account it's full impact and loss henceforth if it occurs.

Risks could be different and solely depends on the nature of the business carried out by an organization. As for eg. Healthcare company will have a different risk to overcome with as against an IT organization.

However some risks are common for all organizations irrespective of the nature of the business being carried out. These could be penned down as Physical risks, Environmental Disasters and other socio-environmet risks.

Risk management has to be dealt with pre risk analysis, risk mitigation, risk reduction, and ensuring organizations staying in business with minimum impact.