Risk Management 

Risk Management is the process of making and carrying out decisions that will minimize the adverse effects of accidental losses upon the organization. Making these decisions requires the following 5 steps in the decision process:

1. Analyze Loss Exposures
2. Examine Alternative Risk Management Techniques
3. Select RM Techniques
4. Implement Techniques
5. Monitor Results

Carrying out these decisions requires the risk management professional to perform the 4  management functions:

1. Plan

2. Organize

3. Lead

4. Control

** George L. Head. Stephen Horn II, Essentials of the Risk Management Process