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| Risk management is an ongoing, iterative
process throughout the life of a project/business undertaking.
Whilst every undertaking is undoubtedly different, there exists
a generally accepted approach to the management of risk. The
risk management process, as documented by many authors in the
literature, explores the techniques and activities deployed for
risk identification, assessment and response. The figure below
illustrates the three key activity steps within the risk
management process (Tweeds 1996):
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