Performance Management

Definition of Performance Management as it relates to Business, Quality Control, Project Management

Operational Risk Management refers to the process of identifying, assessing, and mitigating risks associated with an organization's operations. This includes risks related to business processes, quality control, project management, and other areas that can impact the organization's ability to achieve its objectives. Effective operational risk management helps ensure that an organization operates efficiently, meets regulatory requirements, and minimizes losses due to unexpected events. It involves a proactive approach to identifying potential risks, implementing controls to mitigate those risks, monitoring performance, and continuously improving processes to reduce future risk exposure.

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