Risk management is the skill or job of deciding what the risks are in a particular situation andtaking action to prevent or reduce them.
risk management in British English
(rɪsk ˈmænɪdʒmənt)
noun
the skill or job of deciding what the risks are in a particular situation and taking steps to prevent or reduce them
The megabanks' risk management does not, in practice, seem to have given them greaterprotection than their smaller rivals.
risk management in Insurance
(rɪsk mænɪdʒmənt)
noun
(Insurance: General)
Risk management is a system of preventing or reducing the likelihood that dangerous accidents or mistakes will occur, or reducing the amount of money lost by the insurance company.
Operational risk management involves structuring the organization so that when something bad does happen, thecompany can absorb that hit in the best way possible.
An employer needs to be aware of the claims an employee can bring, risk management techniques to avoid or lessen the potentiality of a claim, and the insurance availableto cover those claims.
Risk management is a system of preventing or reducing the likelihood that dangerous accidents ormistakes will occur, or reducing the amount of money lost by the insurance company.
risk, risk manager
Examples of 'risk management' in a sentence
risk management
Yet because of the high risks it calls for the highest skill in risk management.
Times, Sunday Times (2010)
Ensure that your risk management takes full account of the crisis, reduce costs, consider outsourcing and restructuring.