Risk management considers physical, human, and financial factors in the protection of the organizational and individuals in it.

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Risk management is a comprehensive approach that addresses physical, human, and financial factors to safeguard organizations and their constituents. This involves identifying potential risks, assessing their likelihood and impact, and implementing measures to mitigate or manage them effectively. Physical risks may include natural disasters, accidents, or cybersecurity threats, while human risks can stem from employee errors, misconduct, or fraud. Financial risks, on the other hand, may arise from various sources such as market fluctuations, operational inefficiencies, or credit default. By taking a holistic view of risks, risk management helps organizations proactively minimize or avoid losses, ensure continuity of operations, and ensure compliance with legal and ethical standards.

Risk Management Considers Physical, Human, and Financial Factors in the Protection