Hi, Can someone explain about risk management process steps? Bella

Source: [url=https://www.360factors.com/blog/five-steps-of-risk-management-process/]Risk Management Process[/url] The risk management process is a framework for the actions that need to be taken. There are five basic steps that are taken to manage risk; these steps are referred to as the risk management process. It begins with identifying risks, goes on to analyze risks, then the risk is prioritiz,ed, a solution is implemented, and finally the risk is monitored. In manual systems each step involves a lot of documentation and administration. Here are the 5 steps which can help you out. Step 1: Identify the Risk Step 2: Analyze the risk Step 3: Evaluate or Rank the Risk Step 4: Treat the Risk Step 5: Monitor and Review the risk