Risk control

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Risk Control

Risk Control (pronunciation: /rɪsk kənˈtroʊl/) is a term used in the field of Risk Management to describe the process of identifying, assessing, and prioritizing risks, followed by the application of resources to minimize, monitor, and control the probability or impact of unfortunate events.

Etymology

The term 'Risk Control' is derived from the combination of two English words: 'Risk', which comes from the early 17th century Italian word 'risco' meaning 'danger', and 'Control', which originates from the late Middle English term 'contrarotulus', a term used to refer to a duplicate roll of accounts, from the Medieval Latin word 'contrarotulus', a counter-roll or counter-register.

Related Terms

  • Risk Assessment: The process of identifying and analyzing potential issues that could negatively impact key business initiatives or critical projects in order to help organizations avoid or mitigate those risks.
  • Risk Management: The forecasting and evaluation of financial risks together with the identification of procedures to avoid or minimize their impact.
  • Risk Mitigation: The process of developing actions and strategies intended to minimize the impact of risks on an organization's operations or assets.
  • Risk Identification: The process of determining risks that could potentially prevent the program, enterprise, or investment from achieving its objectives.
  • Risk Analysis: The process of identifying and assessing potential losses related to strategies, actions and operations.

See Also

External links

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