Key Concepts of Risk Management

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Business and judgment involve a definite amount of risk. Risk might cause loss to the company; this does not denote that businesses cannot take risks. Distancing and risk animosity may result in missed business opportunities, which, in turn, will lead to slower development and reduced success of a company. In today’s complex and varied environment, it is vital to find the correct balance between risk aversion and risk taking. To do this, it is necessary to comprehend the complex, out of the whole range of financial, technological, operational, ecological and communal risks connected with the company’s activities. Risk management is the classification, appraisal, and prioritization of risks. This book examines risk management practice across different projects and industries, and discusses emerging issues related to climate change and climate risk management.