BUISENESS MANAGEMENT
RISK MANAGEMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Risk management?
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Accept the threat
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Increase the negative or authentic impact of the threat
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Rational and economical use of resources to reduce risks
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All are correct
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Explanation:
Detailed explanation-1: -The purpose of risk management is to identify potential problems before they occur, or, in the case of opportunities, to try to leverage them to cause them to occur. Risk-handling activities may be invoked throughout the life of the project.
Detailed explanation-2: -Risk reduction deals with mitigating potential losses by reducing the likelihood and severity of a possible loss. For example, a risk-avoidant investor who is considering investing in oil stocks may decide to avoid taking a stake in the company because of oil’s political and credit risk.
There is 1 question to complete.