The concept of risk management, hmm....first we need to know what risk is! come on… who does not know what risk is… it is used so commonly by many of us daily.
To express in the technical terms one could define as the product of the severity from a potential incident or event and how frequent could it happen. Some examples could be:
- Risk from day to day activity (sprain, pain / ache, stress, impatience…)
- Risk from travel (including driving, being a passenger or just being a pedestrian)
- Risk from natural disasters (earthquake, flooding, avalanche, hurricane, epidemics…)
- Risk from industrial accidents (explosions, fires, toxic release, run-away reactions..)
- Risk from terrorist attack
- Risk from investments (shares market, debentures, capital expenditure, marriage…)
The list can go even longer, and yes that is the purpose of this place - to list down the different sort of risks around us and how could we tackle them. It could be anything from the risk in forwarding junk emails to risk in buying a bottle of drink from a local shop.
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