During technology maturation and risk reduction the goal is to primarily reduce Technology, Integration, Engineering type of risk.
- Technology risk, often known as information technology risk, is a type of business risk that is described as the possibility of any technological failure disrupting an organisation. Companies confront a wide range of technological hazards, including data security breaches, cyber attacks, password theft, and service disruptions.
- Integrated risk management (IRM) is a collection of behaviours and procedures that, when supported by a risk-aware culture and supporting technology, improve decision making and performance by providing an integrated picture of how an organization manages its unique risks.
- The application of engineering skills and processes to risk management is known as risk engineering. It entails hazard identification, risk analysis, risk assessment, and risk management.
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