The 7 steps of risk management include:
Risk Identification: Identify potential risks that could affect your project or organization.
Risk Analysis: Each detected risk should be evaluated for its effect and likelihood.
Risk Evaluation: Prioritize risks based on their significance and potential consequences.
Risk Treatment: Develop strategies to mitigate, transfer, avoid, or accept risks.
Risk Monitoring: Keep an eye on and evaluate the performance of risk management techniques.
Risk Communication: Share risk information with stakeholders and team members to ensure awareness and alignment.
Documentation: Maintain thorough records of all risk-related activities and decisions for future reference and analysis.