Avoidance is the best means to control the risk.If your efforts at avoiding the loss are successful it means you will save your business from the loss.That's why avoidance is considered as the first step in risk management process.But there is a difference between avoiding risk and accepting risk.Avoiding risk means that you are not going to do anything with the risk.But in accepting the risk you are actually doing something as you have accepted its impacts.
Identifying hazards and controlling riskIdentifying hazards and controlling riskIdentifying hazards and controlling riskIdentifying hazards and controlling risk
1. Controlling risk 2. Avoiding risk -(Changing the source that is subjecting the program to risk such as reducing the scope of the performance objectives) 3. Assuming risk 4. Transferring risk
True
The phrase Operational Risk Management, is a continual cyclic process in which includes risk assessment, risk decision making, and the implementation of risk controls which can result in acceptance, mitigation, or avoiding risk.
True
Identifying hazards and controlling riskIdentifying hazards and controlling riskIdentifying hazards and controlling riskIdentifying hazards and controlling risk
Identifying hazards and controlling riskIdentifying hazards and controlling riskIdentifying hazards and controlling riskIdentifying hazards and controlling risk
1. Controlling risk 2. Avoiding risk -(Changing the source that is subjecting the program to risk such as reducing the scope of the performance objectives) 3. Assuming risk 4. Transferring risk
Identifying hazards and controlling risk
Identifying hazards and controlling risk
Identifying hazards and controlling risk
Identifying hazards and controlling risk
Identifying hazards and controlling risk
Controlling, Avoiding, Transferring and AssumingAvoiding, Mitigating, Transferring, and Accepting
Risk management is the process of determining, evaluating, and controlling the financial, legal, strategic, and security risks to the assets and profits of an organisation.
True
Identifying hazards and controlling risk