BUISENESS MANAGEMENT
RISK MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
The ISO 31000 risk management standard refers to risk appetite as the
|
|
Amount and type of risk that an organization is prepared to pursue, retain or take
|
|
|
A strong system of internal control is essential to effective enterprise risk management
|
|
|
Employs a combination of both qualitative and quantitative risk assessment methodologies
|
|
|
Collect and display information
|
Explanation:
Detailed explanation-1: -The ISO 31000 risk management standard refers to risk appetite as the “Amount and type of risk that an organization is prepared to pursue, retain or take". This concept helps guide an organization’s approach to risk and risk management.
Detailed explanation-2: -ISO 31000 seeks to help organizations take a methodical approach to risk management by doing three key things: identify risks; evaluate the probability of an event tied to an identified risk occurring; and. determine the severity of the problems caused by the event occurring.
Detailed explanation-3: -Risk appetite is the amount and type of risk that an organization is prepared to pursue, retain or take.
There is 1 question to complete.