What is risk management?

Risk management is about understanding and tackling uncertainties that could affect an organization's goals. It's a methodical approach where risks are identified, analyzed, and then managed to lessen their impact. This isn't a one-time thing—it's an ongoing process that involves constantly checking for new risks and adjusting strategies as needed. Companies use risk management to ensure that they can handle challenges and seize opportunities effectively, helping their business stay resilient and thrive in the long run.