BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Risk reduction is part of the risk ____ component of the risk management process. Page 53
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avoidance
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identification
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evaluation
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control
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Explanation:
Detailed explanation-1: -The risk management process consists of three parts: risk assessment and analysis, risk evaluation and risk treatment.
Detailed explanation-2: -There are at least five crucial components that must be considered when creating a risk management framework. They include risk identification; risk measurement and assessment; risk mitigation; risk reporting and monitoring; and risk governance.
There is 1 question to complete.