What the hell is the Risk management process?

Answer 1

A means of investigating, understanding and so mitigating potential risk events, to reduce the chance of disruption to your business.

You can't always completely control or eliminate risk, so Risk Managemment enables you to minimise it through practical steps in advance of something going wrong.

You start by thinking of any potential problems and disruption to business, and come up with controls to address them.

Answer 2

Risk management is the control of risks. You take a situation and access the risks...what can possibly go wrong? how can it be prevented? if the accident or incident does occur...what will the consequences and loss be? Risk management process is the steps taken to either prevent a situation from occurring or rectifying a situation that has already occurred and preventing it from happening again.

Answer 3

For a reasonable definition:
http://en.wikipedia.org/wiki/Risk_management

We can go on later, but this is certainly a start.
Hope this helps

Answer 4

Your insurance company doesn't want to pay for losses so they try to prevent them.