BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Risk
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Insurance
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Probability
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None of the above
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Detailed explanation-1: -Risk Assessment Step #4: Record Your Findings Recording the findings of your risk assessment means you can use and review the assessment in the future. For employers with five or more staff, it’s also a legal requirement to document the findings of risk assessments and the action taken to reduce the level of risk.
Detailed explanation-2: -The 4 essential steps of the Risk Management Process are: Identify the risk. Assess the risk. Treat the risk. Monitor and Report on the risk.
Detailed explanation-3: -Probability – A risk is an event that “may” occur. The probability of it occurring can range anywhere from just above 0 percent to just below 100 percent. (Note: It can’t be exactly 100 percent, because then it would be a certainty, not a risk. And it can’t be exactly 0 percent, or it wouldn’t be a risk.)