GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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once the impacts of the risks have been predicted, a company can attempt to minimize the harmful effects that risks bring and prepare to handle them in the best way possible
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consists of minimizing the effects of risks, improving existing business systems and investing in new resources
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employment laws, restrictions on trade, tax policies
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involves estimating the cost of the risk to the business if it occurs
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government regulations, foreign influences
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Detailed explanation-1: -A risk mitigation plan is designed to eliminate or minimize the impact of the risk events-occurrences that have a negative impact on the project.
Detailed explanation-2: -Risk management is the process of identifying, assessing and controlling threats to an organization’s capital and earnings. These risks stem from a variety of sources, including financial uncertainties, legal liabilities, technology issues, strategic management errors, accidents and natural disasters.
Detailed explanation-3: -The Waterfall approach requires thorough planning, extensive project documentation, and tight control over the development process. In theory, this should lead to on-time, on-budget delivery, low project risks, and predictable final results.
Detailed explanation-4: -Assume and accept risk. Avoidance of risk. Controlling risk. Transference of risk. Watch and monitor risk. 10-Mar-2023