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it means risk managment.
Risk management is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities.
Risks can come from uncertainty in financial markets, threats from project failures (at any phase in design, development, production, or sustainment life-cycles), legal liabilities, credit risk, accidents, natural causes and disasters as well as deliberate attack from an adversary, or events of uncertain or unpredictable root-cause.
Sources of Risk:
Natural calamities like Flood, Hurricane, Fire, Earthquake.
Human Threats like Theft, Burglary, Piracy of Ideas, technology etc.
Social Threats like: Change in Political situations, Government policies, War, Economic Restrictions from Other countries for the dependent country.
Prices Threats: prices of common essentials like: Fuel Price, essential commodities for life
Standbys:
Insurance against various risks, Reserve from Earnings, Migrations, Governments requests and diplomatic relations, Political Elections and change of Governments.
Agreed witht the answer given by Mr. Venkitaraman KRISHNA
agree with all answers
Risk with preventive measures.
Sources of Risk- Risks are any threats that are harmful to organization.Standbys- Measures/backup to prevents risk threats.
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