Protecting a person's personal assets is not a part of risk management
Risk management means the process of identifying risk, assessing the risk as well as controlling the threat to the capital, profit and reserve of an organisation. The risk or threat could come from economy meltdown, financial uncertainty, legal liabilities, management errors, accidents, natural disasters and so on
The steps of the Risk Management Process are:
1. Identifying the risk.
2. Analyzing the risk.
3. Prioritizing the risk.
4. Treating the risk.
5. Monitoring the risk.
Therefore, Identifying threats, reducing risk to an acceptable level and protecting the organization's assets are all part of risk management process in an organization.
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