MANAGED RISK Meaning and
Definition
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Managed risk refers to the deliberate and systematic approach of identifying, prioritizing, and controlling potential hazards or uncertainties that may affect an individual, organization, or project. It involves comprehensive planning, decision-making, and proactive measures to mitigate and minimize the negative impacts of potential risks, while maximizing the potential rewards or benefits.
In the context of business or finance, managed risk entails implementing strategies and measures to reduce exposure to potential losses or damages, while optimizing opportunities for profit or growth. It involves conducting thorough risk assessments, analyzing potential threats and their probabilities, and developing mitigation plans to safeguard against financial, operational, or reputational risks.
In the field of project management, managed risk involves the identification of potential obstacles or challenges that may hinder the successful completion of a project. It includes evaluating the potential impact of these risks on project objectives, resources, timelines, and stakeholders, and developing strategies to minimize or eliminate them.
In essence, managed risk encompasses a proactive and vigilant approach to risk management, involving the continuous monitoring of potential risks, the implementation of appropriate risk mitigation measures, and the periodic reassessment and adjustment of strategies as necessary. By managing risks effectively, individuals and organizations can enhance their ability to achieve their desired goals while minimizing potential downsides or losses.
Common Misspellings for MANAGED RISK
- nanaged risk
- kanaged risk
- janaged risk
- mznaged risk
- msnaged risk
- mwnaged risk
- mqnaged risk
- mabaged risk
- mamaged risk
- majaged risk
- mahaged risk
- manzged risk
- mansged risk
- manwged risk
- manqged risk
- manafed risk
- manaved risk
- manabed risk
- manahed risk
- manayed risk
Etymology of MANAGED RISK
The term "managed risk" combines two words: "managed" and "risk".
1. Managed:
The word "managed" is the past participle form of the verb "manage". It originated from the Latin word "manus" meaning "hand". In Old French, the word "manegier" evolved, which means "to handle, control, or direct". Over time, it was adopted into English as "manage", retaining its meaning of controlling or handling something skillfully.
2. Risk:
The word "risk" has its roots in the early Italian word "risicare", which means "to dare". This word further originated from the Arabic word "rizq", which translates to "to seek out". From Italian, it entered the French language as "risque", meaning "danger". Eventually, it was adopted into English as "risk", referring to the potential for loss or harm.
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