The document outlines the risk management process, consisting of five key steps: identifying potential risks, analyzing their probability and impact, evaluating and prioritizing critical risks for response, implementing strategies to mitigate those risks, and monitoring the effectiveness of the strategies. Each step aims to proactively manage threats and vulnerabilities. Ultimately, the goal is to minimize or eliminate risks effectively.

1. Risk Management
Process

2. Identify Risks
Step
1
Proactively identify and recognise
potential threats and vulnerabilities

3. Analyse Risks
Step
2
Evaluate the probability and
impact of each identified risk

4. Evaluate Risks
Step
3
Prioritise critical risks for
targeted mitigation and response

5. Resolve Risks
Step
4
Implement strategies to
minimise or eliminate identified risks

6. Monitor & Review
Step
5
Implement strategies to
minimise or eliminate identified risks