risk management(redirected from Hazard risk management)
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risk management[′risk ‚man·ij·mənt]
The overall systematic approach to analyzing risk and implementing risk controls.
The management of an activity, accepting a level of risk which is balanced against the benefit of the activity, usually based on an economic assessment.
In the building industry, the systemized practice of avoiding potential risks, such as culpability and liability or legal entanglements.