Risk Analysis and Management

Risk analysis and management involve identifying potential problems that could negatively impact a project, business, or activity, assessing how likely they are and their possible consequences, and then developing strategies to prevent or minimize these risks. It’s about proactively understanding uncertainties—whether financial, operational, or safety-related—and planning appropriate responses. This process helps decision-makers make informed choices, prioritize resources, and reduce the chances of adverse outcomes, ensuring smoother operations and better preparedness for unforeseen events.