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The five steps to the risk management process are:

  1. Risk Identification - Recognizing potential risks that could affect the project or organization.
  2. Risk Assessment - Analyzing the identified risks to understand their impact and likelihood.
  3. Risk Mitigation - Developing strategies to reduce or eliminate the risks.
  4. Risk Monitoring - Continuously tracking the risks and the effectiveness of mitigation strategies.
  5. Risk Communication - Sharing information about risks and risk management efforts with stakeholders.
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4mo ago

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