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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Identifying as many risks as possible often leads to not being able to manage it all properly.
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.
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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