What is a risk in a business environment?

What is a risk in a business environment?

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A risk can be defined as the possibility of a negative outcome that can put a project under loss or threat. The project team identifies a set of initial risks during the Envisioning phase. This set of risks is continuously updated at the later phases of the project. The best technique to manage a risk is to identify all the potential risks with high priority level and to prevent them by following a good mitigation and prevention strategy.

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