Question Description
One of the ways to view the concept of risk management is by looking at it as a process. It is a process that entails identifying, analyzing as well as responding to risk factors. Essentially, proper risk management does imply the control of possible future events as well as it should be proactive rather than reactive (Bobylev, n.d.). I can go further and talk about risk management systems, which are designed to do more than just identify the risk. The system must also be able to quantify the risk and predict the impact of the risk on critical
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