Risk management is the process of identifying, analyzing and treating risks.Risk control is a type of risk treatment that involves implementing policies, procedures and automations to reduce risk.
The DifferenceRisk management is the end-to-end process of identifying and handling risks. Each risk is analyzed and a decision is made to avoid, accept, mitigate, transfer or share each risk.Risk control is a means of mitigating risks by implementing operational processes. For example, the risk of equipment failure might be controlled by performing regular maintenance according to a predefined schedule.
RelationshipRisk management uses risk control as one method of treating identified risks.
|Risk Management||Risk Control|
|Definition||The process of identifying, analyzing and treating risk. ||Implementing operational policies, procedures and automations to mitigate risk.|
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