BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Lack of resources and monitoring
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Unrelenting hostile encounters
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Equipment serviceability and availability
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Overconfidence or complacency
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Detailed explanation-1: -Here is the correct answer of the given question above. The factors that can cause controls that are established and implemented for a prolonged period to lose their effectiveness are OVERCONFIDENCE AND COMPLACENCY.
Detailed explanation-2: -These factors are (1). Commitment and support from top management, (2) Communication, (3) Culture, (4) Information technology (IT), (5) Organization structure, (6) Training and (7) Trust. Because risk management is an important part of the financial industry, effectiveness is vital to increase project success.
Detailed explanation-3: -Accept risks when benefits outweigh costs. Accept no unnecessary risk. Anticipate and manage risk by planning. Make risk decisions at the right level.