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The Ultimate List of Visual Risk Management Techniques

Risk management is a process in which risks are identified and controlled proactively. It allows businesses to improve their chances of success by minimizing threats and maximizing opportunities.

Risk management is essential to a business as it helps prevent financial losses and increase revenue.  Other benefits of risk management include,

  • Help to identify projects that might be headed toward trouble and apply solutions
  • Help to prepare for unexpected threats beforehand
  • Help to provide enough data to make better decisions regarding projects/ events
  • Help to improve communication between stakeholders and project teams
  • Help teams stay more focused on the key outcomes

Key stages of a risk management process are identifying risks, analyzing risks and planning to mitigate risks. These are detailed below along with risk management techniques you can use.