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Before you start risk management, it is important to identify the risks the company is exposed to.
Establish a catalogue of risks or a"risk register"
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Identifying as many risks as possible often leads to not being able to manage it all properly.
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A risk can be defined as an effect of uncertainty on the objective. It is a different outcome from what you expected and can address, create or result in opportunities and threats.
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One method is to ask the people with knowledge about the functioning of the organization, what could go wrong. It can be done using brainstorming, questionnaires, self-reporting etc.
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