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The five principles of risk management are:

  1. Risk Identification: Recognizing potential risks that could affect objectives.
  2. Risk Assessment: Evaluating the likelihood and impact of identified risks.
  3. Risk Control: Developing strategies to mitigate or eliminate risks.
  4. Risk Communication: Sharing information about risks and management strategies with stakeholders.
  5. Risk Monitoring: Continuously observing and reviewing risks and the effectiveness of management strategies over time.
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2mo ago

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