Risk Management
Definition of Risk Management Hierarchical Category as it relates to Business, Business Services, Information Technology
The discipline of identifying, assessing, and controlling threats to an organization's capital and earnings, particularly those deriving from the use of information technology and diverse business services in the corporate environment. These threats, or risks, could stem from various sources, including financial uncertainty, legal liabilities, strategic management errors, accidents, and natural disasters. Risk management strategies are designed to reduce the probability of specific losses by identifying potential risks before they occur and implementing measures to mitigate their impact.