BUISENESS MANAGEMENT
RISK MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Risk Transfer
|
|
|
Risk Avoidance
|
|
|
Risk Reduce
|
|
|
Accept
|
Detailed explanation-1: -To reduce the impact in low probability-high impact events, it is imperative to identify vulnerabilities & reduce the likelihood of their exploitation. Other impact reducing steps include: Preparedness. Mitigation.
Detailed explanation-2: -What are the four types of risk mitigation? There are four common risk mitigation strategies. These typically include avoidance, reduction, transference, and acceptance.
Detailed explanation-3: -A risk with low probability and low impact may be put on a watch list with no further action taken.
Detailed explanation-4: -Mitigate – act to reduce the probability of occurrence or the impact of the risk. An example of this is choosing a different supplier. Accept – acknowledge the risk, but do not take any action unless the risk occurs.