Definition
Risk Management is the continuous process of identifying, analysing, evaluating, monitoring and controlling Risk to keep it at a level acceptable to the organisation.
Human Explanation
It is not about eliminating every Threat but about making deliberate decisions concerning Risk.
Why it Matters
Every organisation operates under uncertainty. Risk Management limits adverse consequences and supports better use of resources.
Conceptual Boundary
Risk Management does not end after a single analysis. It continues throughout the life of the organisation.
Practical Perspective
Changing technologies, processes and Threats require Risk to be reassessed regularly.