The risk management process is a framework for the actions that need to be taken. There are five basic steps that are taken to manage risk; these steps are referred to as the risk management process.
The Risk Management Process described in this Diagram consists of the four main stages: Identify Risk: consists of the practice of reviewing , analyzing and listing the existing risks to the project, plan or endeavour under analysis.
The risk management system has seven (7) steps which are actually is a cycle. 1. Establish the Context
Risk Management Process Diagram