On Good Friday, April 14, 1865, Lincoln was assassinated at Ford's Theatre in Washington by John Wilkes Booth, an actor, who somehow thought he was helping the South. The opposite was the result, for with Lincoln's death, the possibility of peace with magnanimity died.
The risk management processâof identifying, analyzing, evaluating, and ultimately responding to and. monitoring riskâis at the heart of enterprise risk management (ERM). Extending this process across an. entire organization, looking at both âupsideâ and âdownsideâ risk, and considering risk in the context of. strategy is what differentiates âERMâ from âtraditionalâ risk management. This Guide to Risk Assessment & Response deals with the first steps 1 through 5 of the risk.
Definition. Risk management is the act of identifying and solving potential risks. A risk is defined as anything that has the potential to negatively affect a business or organization. Risk management is used by organizations and businesses to assess problems that either have or will occur. After the risks, the business or organization then takes steps to reduce the risk or eliminate it completely.