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Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.
The "Operational Risk Manager Certificate" prepares managers to "implement risk assessment initiatives, produce risk management information and understand basic modeling techniques"; this is an entry level certificate, as distinct from the Designation above.
Operational risk management (ORM) is defined as a continual recurring process that includes risk assessment, risk decision making, and the implementation of risk controls, resulting in the acceptance, mitigation, or avoidance of risk.
Enterprise risk management. Enterprise risk management ( ERM) in business includes the methods and processes used by organizations to manage risks and seize opportunities related to the achievement of their objectives. ERM provides a framework for risk management, which typically involves identifying particular events or circumstances relevant ...
Definition of risk and risk management. Risk management activities are applied to project management. Project risk is defined by the Project Management Institute (PMI) as, "an uncertain event or condition that, if it occurs, has a positive or negative effect on a project’s objectives."
GRC research. Each of the core disciplines – Governance, Risk Management and Compliance – consists of the four basic components: strategy, processes, technology and people. The organisation's risk appetite, its internal policies and external regulations constitute the rules of GRC.