The Difference
Risk 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.Relationship
Risk management uses risk control as one method of treating identified risks.| Risk Management vs Risk Control | ||
Risk Management | Risk Control | |
Definition | The process of identifying, analyzing and treating risk. | Implementing operational policies, procedures and automations to mitigate risk. |
