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Risk Assessment
Risk assessment is the process of identifying, analyzing, and evaluating potential risks to an organization’s operations, assets, or reputation. It involves determining the likelihood of these risks occurring and the potential severity of their impact.
Risk assessment helps businesses proactively identify vulnerabilities and implement measures to mitigate them. The process helps organizations understand where they are most at risk and prioritize resources accordingly.
By regularly conducting risk assessments, businesses can stay ahead of emerging threats, ensure regulatory compliance, and protect their finances as well as operations. Effective risk assessment involves continuous monitoring, updating risk management strategies, and adapting to new challenges over time.
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