Risk Management in a Nutshell
"'Risk Management' is the art and science of thinking about what could go wrong, and what should be done to mitigate those risks in a cost-effective manner.
"In order to identify risks and figure out how best to mitigate them, we first need a framework for classifying risks.
"All risks have two dimensions to them: likelihood of occurrence, and severity of the potential consequences. These two dimensions form four quadrants, which in turn suggest how we might attempt to mitigate those risks:
Read more in this VC Experts article.
