Risk Management refers to the process of identifying, assessing, and prioritizing risks followed by coordinated efforts to minimize, control, and monitor the impact of those risks. It involves analyzing potential events that could negatively affect an organization’s assets and objectives, and implementing strategies to mitigate or eliminate those risks. This can include techniques such as risk avoidance, risk reduction, risk sharing, and risk acceptance. Effective risk management helps organizations make informed decisions, safeguard resources, enhance resilience, and ensure compliance with relevant regulations, ultimately aiming to achieve their strategic goals while minimizing potential adverse effects.
A fire erupted in the Edogawa district of Tokyo, disrupting the peaceful neighborhood and affecting six buildings over 308 square meters. The blaze originated in an abandoned home, racing across…