RISK MANAGEMENT
\ɹˈɪsk mˈanɪd͡ʒmənt], \ɹˈɪsk mˈanɪdʒmənt], \ɹ_ˈɪ_s_k m_ˈa_n_ɪ_dʒ_m_ə_n_t]\
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The process of minimizing risk to an organization by developing systems to identify and analyze potential hazards to prevent accidents, injuries, and other adverse occurrences, and by attempting to handle events and incidents which do occur in such a manner that their effect and cost are minimized. Effective risk management has its greatest benefits in application to insurance in order to avert or minimize financial liability. (From Slee & Slee: Health care terms, 2d ed)
By DataStellar Co., Ltd
