Risk management is a systematic process of analyzing, identifying, and responding to projects risk. It increases the chances and the impact of positive events while minimizes the probability and the impact of negative events, in other to meet the project objectives.

We are continuously managing risks in our lives, whether it is during basic actions like driving a vehicle or when we purchase new insurance or medical plans. In essence, risk management is the process of analysing and responding to hazards.

During our daily routines, most of us handle them subconsciously. However, when it comes to financial markets and corporate management, risk assessment is a critical and deliberate procedure.