Planning

{
  "id": "MLC-T-INS-002578",
  "term": "Planning",
  "field": "Insurance and risk management",
  "definition": "The systematic process of setting objectives, developing strategies, and outlining actions to achieve desired outcomes in risk management. This involves identifying potential risks, assessing their likelihood and impact, and formulating responses to mitigate, transfer, or accept them. Effective planning provides a structured framework for an organization's overall risk strategy.",
  "url": "https://mlchart.com/terminology/insurance/planning/"
}