Risk Assessment and Management Framework

A Risk Assessment and Management Framework is a structured approach organizations use to identify potential threats or problems, evaluate their likelihood and impact, and develop plans to prevent or reduce them. It involves systematically analyzing risks, prioritizing those that could cause significant harm, and implementing strategies to control or mitigate them. This process helps organizations make informed decisions, allocate resources effectively, and improve safety and resilience. In essence, it’s a organized way of understanding and handling risks to protect assets, reputation, and goals.