Glossary term

Risk Assessment

This term has 2 definitions.

1. Risk assessment is the systematic process of identifying potential hazards or threats, analyzing their likelihood and impact, and evaluating the level of risk they pose to an organization or operation. It serves as the foundation for informed decision-making and helps prioritize risk mitigation efforts to reduce exposure and enhance overall resilience in the supply chain.

2. Risk assessment is the process of identifying, analyzing, and evaluating risks that could affect the achievement of an organization’s objectives. It helps prioritize risks based on their likelihood and impact, enabling informed decisions on how to manage or mitigate them within the risk and control framework.

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