The risk management process consists of five core strategies: avoidance (bypassing risky activities), retention (accepting and budgeting for small, predictable losses), sharing (spreading the burden across multiple parties), transferring (shifting financial risk to an insurer for a premium), and loss prevention/reduction (active mitigation of threats).

Authors

• Person: Robert Mwesige Organization: Robert Consulting
  Personal Financial Management | What It Is and The Core ...

Sources

• Personal Financial Management | What It Is and The Core ... robertconsulting.uk Robert Mwesige · Robert Consulting via serper

Referenced by nodes (1)

• risk management concept