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Organisations face a very wide range of risks that can impact the outcome of their operations. These events may inhibit what the organisation is trying to achieve (hazard risks), enhance what the organisation is doing (opportunity risks), or create uncertainty about the outcomes (control risks). Fundamentals of Risk Management provides a comprehensive introduction to the subject of commercial and business risk. It is suitable for those studying for a career in risk as well as a broad range of risk professionals. The book examines the key components of risk management and how it can be applied. Examples are provided that demonstrate the benefits of risk management to organisations in the public and private sector.