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The five steps to risk management are:

  1. Risk Identification: Recognizing potential risks that could affect the project or organization.
  2. Risk Assessment: Evaluating the likelihood and impact of each identified risk.
  3. Risk Mitigation: Developing strategies to minimize or eliminate the risks.
  4. Risk Monitoring: Continuously tracking risks and the effectiveness of mitigation strategies.
  5. Risk Communication: Keeping stakeholders informed about risks and the measures in place to manage them.
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1w ago

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