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What is the explanation for the four common Risk Treatment Practices?
Wiki User
∙ 10y ago
The four common Risk Treatment Practices are:
Accept the risk-The Risk Might be too small the effort and expense to mitigate is not worthwhile.
Avoid the Risk- This may be done by ending the activity that gives rise to the Risk
Reduce the Risk-That is decreasing the extent damage.
Transfer the Risk-This involves other parties baring the Risk.
for further reading
management theory and practice
kris cole 4th edition
Wiki User
∙ 10y ago
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What are best practices?
Best Practice … What is a best practice ?There is no universal definition of a best practice. But there are common characteristics.Best practices are often exemplary behaviors modeled into processes. Conceptually, best practices are ethical, legal, fair, replicable, and applicable to anyone within an organization … therefore they are "Good practices". But they are not only "Good Practices". They are "Best Practices", because their implementation aims at improving an organization's performance through additional accountability,compliance, transparency and risk control.visitwww.best-practice.com
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