Risk Management Process
After identifying the various types of risk, the next step is to analyze the dynamics of the process of risk management. The process of risk management has been represented in Figure 1. Risk management is not a one-time process, but an ongoing process, in which the feedback obtained, is again incorporated in the first link of the process to improve its robustness and efficiency. Risk management strategies are not a characteristic feature of the financial industry only, but it is undertaken by all industries and individuals, depending on their potential and objectives.