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The Five Steps of the Deliberate Risk Management Process are:

  1. Identify Risks: Recognize potential hazards that could affect objectives or operations.
  2. Assess Risks: Evaluate the likelihood and impact of identified risks to prioritize them.
  3. Develop Control Measures: Formulate strategies and actions to mitigate or manage identified risks.
  4. Implement Controls: Execute the developed measures and policies to reduce risks.
  5. Monitor and Review: Continuously track risk management effectiveness and make adjustments as necessary.
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