Litchfield Park, Arizona. Litchfield Park is a city in Maricopa County, Arizona, United States. It is twenty miles northwest of Phoenix. According to the 2010 census, the population of the city is 5,476. Contents.
Risk management is an important part of planning for businesses. The process of risk management is designed to reduce or eliminate the risk of certain kinds of events happening or having an impact on the business. Risk management is a process for identifying, assessing, and prioritizing risks of different kinds.
See also: Risk management. The term Operational Risk Management (ORM) is defined as a continual cyclic process which includes risk assessment, risk decision making, and implementation of risk controls, which results in acceptance, mitigation, or avoidance of risk.ee also: Risk management. The term Operational Risk Management (ORM) is defined as a continual cyclic process which includes risk assessment, risk decision making, and implementation of risk controls, which results in acceptance, mitigation, or avoidance of risk.