Risk management is the overall process of identifying, assessing, and prioritizing risks, followed by the coordinated application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities. It's a broad, strategic approach. Risk control is a specific component within risk management. It involves implementing measures and actions designed to reduce or eliminate identified risks. These controls are the practical steps taken to manage risks, such as implementing safety procedures, installing security systems, or diversifying suppliers. Risk control focuses on the execution of strategies decided upon during the risk management process.