Finance School of Management Risk management The process of formulating the benefit-cost trade- offs of risk reduction and deciding on the course of tion action to take The appropriateness of a risk-management decision should be judged in the light of the information available at the time the decision is made Skill and lucky in risk management uesTc6 Finance School of Management Risk Management ❖ The process of formulating the benefit-cost trade￾offs of risk reduction and deciding on the course of action to take. − The appropriateness of a risk-management decision should be judged in the light of the information available at the time the decision is made. − Skill and lucky in risk management