Risk / Management / Policy

1. “Context Analysis—defining boundaries of the Risk Management processes in order to define a suitable risk model approach
2. Risk Assessment—consists of risk identification (timely identification of internal and external risk factors) and risk qualification (prioritizing identified threats according to risk level)
3. Risk Treatment—consists of four classical approaches:
1. Reduce exposure to risky circumstances;
2. Attempt to mitigate the impact of a risk factor after it appears;
3. Seek to externalize risks; or
4. Accept the risks encountered
4. Risk Control—consists of monitoring and reviewing each step in the risk management process, and communicating and consulting hazards to project managers”

http://en.wikipedia.org/wiki/Risk
http://en.wikipedia.org/wiki/Risk_management
http://www.wikihow.com/Write-a-Risk-Management-Policy