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The first step in developing a risk management plan is to **identify the risks** that your organization faces. This involves brainstorming potential threats and vulnerabilities across all areas of your business. Consider both internal risks (e.g., employee errors, system failures) and external risks (e.g., economic downturns, natural disasters). Use tools like SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) and brainstorming sessions to uncover potential risks. Engage employees from different departments in the process to get a comprehensive view of the risks.
