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Plan Ahead to Suceed.
Numerous different risk formulae exist, but perhaps the most widely accepted....
Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunitie(wikioedia)
Planning is the process of thinking regarding the activities required to achieve a desired goal.
Select appropriate controls or countermeasures to mitigate each risk..
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