BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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When managing risk, you will only be expected to counter which your business may reasonably be expected to face while providing its services.However, risk management involves a process of step to be taken in order. It is:
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Risk identification, risk analyst, risk treatment, risk monitoring, and review
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Risk treatment, risk monitoring and review, risk identification, risk analyst
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Risk identification, risk monitoring, and review, risk analyst, risk treatment
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Risk analyst, risk identification, risk treatment, risk monitoring, and review
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Explanation:
Detailed explanation-1: -Essentially, the goal of risk management is to identify potential problems before they occur and have a plan for addressing them. Risk management looks at internal and external risks that could negatively impact an organization.
Detailed explanation-2: -The risk management process consists of three parts: risk assessment and analysis, risk evaluation and risk treatment.
Detailed explanation-3: -There are five categories of operational risk: people risk, process risk, systems risk, external events risk, and legal and compliance risk.
Detailed explanation-4: -19. During which risk management process is a determination to transfer a risk made? Transference is a Risk Response Strategy.
There is 1 question to complete.