What is NOT considered a part of the risk management process?

Establishing financial targets is not considered a part of the risk management process because it focuses on setting specific financial goals that an organization aims to achieve, such as revenue growth, profit margin, or return on investment. This process is primarily about planning and performance management rather than the assessment and mitigation of risks.

In contrast, risk identification involves recognizing potential risks that could impact the organization, which is a fundamental step in managing those risks effectively. Risk prioritization is crucial for determining which risks pose the greatest threat and should be addressed first, while risk measurement involves quantifying the potential impact of identified risks to facilitate informed decision-making. These components are integral to a comprehensive risk management strategy as they help organizations to protect their assets and ensure stable operations.