BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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How many does a structured risk management process?
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7 steps
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6 steps
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9 steps
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8 steps Explan:1 identify operational and financial risks. 2 analyze the impact of the risks. 3 evaluate the organization’s attitude towards each identified risk. 4 select the right risk management strategy and product. 5 establish product controls and associated risks. 6 implement a risk management strategy. 7 monitoring, reporting, review and audit.
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Explanation:
Detailed explanation-1: -There are 7 steps in the risk management process. In the process, risk managers will evaluate possible risks by selecting either the alternative regulatory or the non-regulatory response to 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.
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