It is to decrease the negative consequence of risks. The purpose of risk management is not to wipe out all risks. Despite this, we sometimes see risk management as “the department of no” - those who turn down any project plan that seems to have any potential risk. Everyone Should Manage RiskĪs most business people know well, sometimes the risk is necessary in order to achieve success. To highlight the importance of risk, here are some reasons all employees should care about risk management. Risk management is the process of identifying, evaluating, and prioritizing risks followed by integrated and economical application of resources to reduce, observe, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.
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