An organized, technical approach to identify what might cause harm or loss (identify risks), assess and quantify the identified risks, and to develop and if needed implement an appropriate approach to prevent or handle risk causes that could result in significant harm or loss. Typically, risk management is performed for project, organization, or product-developing organizational units.

1. This glossary is from Appendix C of Technical Report CMU/SEI-2002-TR-004.
2. ® CMMI is registered in the U.S. Patent and Trademark Office by Carnegie Mellon University.