Synopsis Risk Management starts from the proposition that risks can be measured by using some measure of variability. Risk management is to identify, measure and more importantly monitor the risk profile. Managing risk is nothing but managing the change before the risk manages every one. Its objective is to minimize losses arising from risk exposures. For effective risk management, a comprehensive risk management policy has to be formulated incorporating a detailed structure of limits and guidelines to be followed, and a strong management information system built up for continuous monitoring and reporting of risk exposures. This book will be undoubtedly useful for various segments of society viz., students, researchers, teachers, policy-makers, planners as well as government.