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Thank you. Risk management is the forecasting and evaluation of financial risks together with the identification of procedures to avoid or minimize their impact.
Risk management is important in an organization because without it, a firm cannot possibly define its objectives for the future.Also, the risk management team is responsible for assessing each risk and determining which of them are critical for the business.
Business people need to understand the psychology of risk more than the mathematics of risk!
The forecasting and evaluation of financial risks together with the identification of procedures to avoid or minimize their impact. Important is to make as much accurate estimate as you can.
Thanks
Risk Management : Is to determination and forecast all kinds of risks which will affect of work and work environment, and put plans against these threats.
the importance of this management come from its ability to reduce the risks effects.
Thanks for the invitationagreed with an answer dear colleagues.