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TeachMeFinance.com - explain risk management risk management 'risk management' is an military term. It means '(DOD) The process of identifying, assessing, and controlling, risks arising from operational factors and making decisions that balance risk cost with mission benefits. Also called RM. See also risk'. Previous 5 Terms: riot control agent rising mine_ risk _ risk- risk assessment - Next 5 Terms: riverine area riverine operations_ road block _ road clearance time- road hazard sign - Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.