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Risk assessment is a systematic process that involves identifying, analyzing, and evaluating potential hazards or uncertainties that may affect an organization or project. It aims to quantify the likelihood and impact of these risks to prioritize and manage them effectively. This proactive approach helps in making informed decisions, implementing mitigation strategies, and enhancing overall resilience. Through a comprehensive risk assessment, organizations can minimize the likelihood of adverse events, optimize resource allocation, and ensure a more secure and sustainable future.
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