Risk Management Unit
What is Risk Management?
Risk has been defined as "the chance of something happening that will have an impact upon objectives".
Risk management is recognised as an integral part of good management practice. It is a process which when undertaken enables continual improvement in decision-making. Risk management is the logical and systematic process of establishing the context, identifying, analysing, evaluating, treating, monitoring and communicating risks associated with any activity, function or process in a way that will enable organisations to minimise losses and maximise opportunities. Risk management is as much about identifying opportunities as avoiding or mitigating losses.
