Risk Management is critical because risk is inherent to achieving any goal. Instead of trying to eliminate risk or seeking to avoid it, you should be planning and managing risk, even leveraging it, because risk = opportunity
Below are some forms of insurances/protections to share risk/spread risk so that you do not face those risks alone. (Sometimes also called “supplemental insurance” meaning in addition to international health insurance.)
Consider the amount of risk to your organization or family and what to do with it. Consider the various types of risk you face as a family so that you control the amount of risk and choice of risks—no more, no less—that allow you to effectively pursue your personal, life, and organizational goals without failure, if one of those risks were to happen.
Assessing risks consists of assigning a value to each risk (or opportunity) using a defined criteria.