Importance of Risk Management Risks management is an important process because it empowers a business with the necessary tools so that it can adequately identify potential risks. Once a risk’s been identified, it is then easy to mitigate it.
When a risk management solution is implemented one of the most important basic steps is to map risks to different documents, policies, procedures, and business processes. This means that the system will already have a mapped risk framework that will evaluate risks and let you know the farreaching effects of each risk.
In a manual risk management environment, this analysis must be done manually. When a risk management solution is implemented one of the most important basic steps is to map risks to different documents, policies, procedures, and business processes.
