Framework for Risk Management

A Framework for Risk Management is a structured approach that organizations use to identify, assess, and address potential threats to achieve their objectives. It involves recognizing possible risks, evaluating their likelihood and impact, and implementing strategies to prevent or minimize damage. The framework provides guidelines and processes to ensure risks are managed proactively and consistently, helping organizations protect their resources, reputation, and success. Essentially, it's a systematic way to prepare for uncertainties and make informed decisions to reduce negative effects.