Whois & Analysis for maclearglobal.com

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 opportunities.

Regulation is an abstract concept of management of complex systems according to a set of rules and trends.

In systems theory, these types of rules exist in various fields of biology and society, but the term has slightly different meanings according to context.

For example:

Enterprise risk management (ERM) in business includes the methods and processes used by organizations to manage risks and seize opportunities related to the achievement of their objectives.

ERM provides a framework for risk management, which typically involves identifying particular events or circumstances relevant to the organization's objectives (risks and opportunities), assessing them in terms of likelihood and magnitude of impact, determining a response strategy, and monitoring process.

By identifying and proactively addressing risks and opportunities, business enterprises protect and create value for their stakeholders, including owners, employees, customers, regulators, and society overall.

Computer software, or simply software, is a generic term that refers to a collection of data or computer instructions that tell the computer how to work, in contrast to the physical hardware from which the system is built, that actually performs the work.

In computer science and software engineering, computer software is all information processed by computer systems, programs and data.

Computer software includes computer programs, libraries and related non-executable data, such as online documentation or digital media.

Computer hardware and software require each other and neither can be realistically used on its own.

Broadly speaking, a risk assessment is the combination effort of 1.

identifying and analyzing potential (future) events that may negatively impact individuals, assets, and/or the environment (i.e., risk analysis); and 2.

making judgements "on the tolerability of the risk on the basis of a risk analysis" while considering influencing factors (i.e., risk evaluation).

Put in simpler terms, a risk assessment analyzes what can go wrong, how likely it is to happen, what the potential consequences are, and how tolerable the identified risk is.

As part of this process, the resulting determination of risk may be expressed in a quantitative or qualitative fashion.

The risk assessment plays an inherent part of an overall risk management strategy, which attempts to, after a risk assessment, "introduce control measures to eliminate or reduce" any potential risk-related consequences.