What is Risk Managment?What is Halo effect?

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Risk management is the process of identifying, assessing, and controlling potential risks that could affect a project or organization. Halo effect is a cognitive bias where a person's overall impression of a person, company, or product influences their perception of that entity's specific traits or abilities.

Risk management involves identifying potential risks, assessing their likelihood and impact, and developing strategies to mitigate or avoid them.
Effective risk management can help prevent project delays, cost overruns, and other negative outcomes.
The halo effect can lead to inaccurate judgments or evaluations, as a person's overall impression of something can influence their perception of specific aspects of it.
For example, a company with a strong brand reputation may be perceived as having high-quality products, even if some of those products are actually subpar.
To avoid the halo effect, it's important to evaluate entities based on specific criteria and not let overall impressions cloud judgment.

What is Risk Managment?What is Halo effect?

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