BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which one of the following Risk Management is true:(1) Create and Protect Value(2) Integral parts of Organizational process(3) Part of decision making(4) Inclusive and flexible approach
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All statement are true
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Only (1) AND (2)
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(1), (2) and (3)
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(1) and (3)
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Explanation:
Detailed explanation-1: -The 4 essential steps of the Risk Management Process are: Identify the risk. Assess the risk. Treat the risk. Monitor and Report on the risk.
Detailed explanation-2: -Comment: Risk management is responsibility of a whole project team. They should identify the risks as early as possible and come up with the ways to deal with them. 3.
Detailed explanation-3: -The risk assessment process consists of four parts: hazard identification, hazard characterization, exposure assessment, and risk characterization.
There is 1 question to complete.