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Risk World 2023 Part 2: Brett Tucker of Carnegie Mellon University, Justin Smulison of RIMS, and Maren Mooney of Stratus Risk Associates

Risk Management: Brick by Brick

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Understanding Risk Management Fundamentals

This chapter discusses the core fundamentals of a good risk management program and emphasizes the importance of good governance, risk appetite, and policies and procedures. It also highlights the role of executives in advocating for risk management and educating the organization on the definition of risk as uncertainty and potential opportunities.

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