Answer:
Risk management is a subject that is very much invoke in our modern world. At the heart of risk management is the macro of risk assessment. For us to understand risk assessment process, we need to have a working definition of risk. Risk is defined by ISO 31000 as effect of uncertainty on objectives. The effect can be positive, upside, or downside negative. We have a broad definition. This broad definition enables us to look at risk from a broad perspective. Risk constitutes opportunities, possibilities of gain or downside risks, negatives, which suggest losses.
Explanation:
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