Risk management is a process of identifying, assessing and prioritising of risks, followed by a well-coordinated and economical application of resources to minimise and control the probability and impact of unfortunate events while maximising the realisation of opportunities. Risks can come from various uncertainties in the forms of financial markets, project failures, legal liabilities, credit risk, accidents, natural causes and disasters. Risk management looks at strategies to avoid or reduce the negative effects of the risk and accepts some or all of the consequences of it.