Nowadays
when present global competitive and knowledge based environment is a prime
concern, Risk management has become very crucial part of present business life.
Increasing Insolvency rate has re-emphasized the importance of risk management
.Risk is not a bad thing and failure is often a key to learning which prepares
the way to success. So risk is not harmful if we handle it properly as it
provides opportunity.
Risk management is a concept which denotes the
potential negative impact on the future projects or events.In other
way
risks are event or happenings, which may occur and if occurrence may have bad
or negative impact on the project.
