risk management

/R IH1 S K M AE0 N AH0 JH M AH0 N T/
noun
  1. 1

    The process of determining the maximum acceptable level of overall risk to and from a proposed activity, then using risk assessment techniques to determine the initial level of risk and, if this is excessive, developing a strategy to ameliorate appropriate individual risks until the overall level of risk is reduced to an acceptable level.

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Source: https://en.wiktionary.org/wiki/risk%20management