Risk advisory services assist organizations in identifying, assessing, managing, and mitigating risks to achieve their objectives effectively. The key components of risk advisory include: Risk Identification and Assessment: Systematically recognizing potential risks that could impact the organization and evaluating their likelihood and potential impact. KirkpatrickPrice Risk Mitigation and Control: Developing and implementing strategies to manage identified risks, such as avoidance, reduction, sharing, or acceptance. SixSigma.us Risk Monitoring and Review: Continuously tracking identified risks and the effectiveness of mitigation measures, ensuring that risk management strategies remain relevant and effective over time.