Rice University

Office of Risk Management
Office of Risk Management

About Risk Management

Risk Management is one of the specialties in the field of management. By definition risk management is a process that involves making and implementing decisions that will minimize the adverse effects of accidental losses upon an organization. Making these decisions involves a five step decision process: (1) identifying loss exposures; (2) examining alternative risk management techniques; (3) selecting the best risk management technique(s); (4) implementing the chosen risk management technique(s); and (5) monitoring the results to ensure the risk management program remains effective.