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A process that allows individual risk events and overall risk to be understood and managed proactively, optimising success by minimising threats and maximising opportunities.
The systematic application of principles, approaches and processes to the tasks of identifying and assessing risks, and then planning and implementing risk responses.
The process responsible for identifying, assessing and controlling risks. Risk management is also sometimes used to refer to the second part of the overall process after risks have been identified and assessed, as in ‘risk assessment and management’. This process is not described in detail within the core ITIL publications.