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Create free account to access unlimited books, fast download and ads free. Risk management is a process of thinking systematically about all possible risks, problems or disasters before they happen and setting up procedures that will avoid the risk, or minimise its impact, or cope with its impact. The board of directors holds the ultimate responsibility. It helps assess the framework for the design, implementation, and maintenance of risk management. In 2001 treasury produced management of risk a strategic overview which rapidly became known as the orange book.
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