RISK SOURCE
• A risk source has the intrinsic potential to give rise to risk. • A risk source is where a risk originates. • It’s where it comes from.
• Potential sources of risk include at least the following: commercial relationships and obligations, legal expectations and liabilities, economic shifts and circumstances, technological innovations and upheavals, political changes and trends, natural events and forces, human frailties and tendencies, and management shortcomings and excesses. • All of these elements could potentially generate a risk that must be managed.
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