Risks need to be ranked and prioritized. Most danger management answers have exclusive classes of risks, depending at the severity of the chance. A threat that may also reason a few inconvenience is rated lowly, risks that can result in catastrophic loss are rated the highest. It is crucial to rank risks due to the fact it lets in the agency to benefit a holistic view of the hazard publicity of the whole enterprise. The enterprise can be susceptible to numerous low-level dangers, but it is able to now not require upper management intervention. On the opposite hand, just one of the highest-rated risks is enough to require immediate intervention. Risk control is an important business practice that helps organizations identify, evaluate, track, and mitigate the dangers present within the business environment. Risk management is practiced with the aid of the commercial enterprise of all sizes; small companies do it informally, whilst corporations codify it. Businesses need to ensure balance as they grow. Managing the risks which might be affecting the enterprise is a critical part of this stability. Not understanding approximately the dangers that can affect the enterprise can bring about losses for the agency. Being ignorant of a competitive hazard can bring about loss of market share, being ignorant of a financial risk can bring about financial losses, being aware of a safety chance can result in an accident, and so on. Businesses have dedicated hazard management resources; small corporations might also have just one threat supervisor or a small team even as firms have a threat control department. People who work within the chance management domain monitor the company and its environment. They have a look at the enterprise techniques being followed inside the employer and they take a look at the external elements which can have an effect on the employer one manner or the opposite.