Question

    Which of the following are involved in the

    identification of risks?
    A Looking at risks from distance Correct Answer Incorrect Answer
    B Trying to understand the impact Correct Answer Incorrect Answer
    C Avoiding risks Correct Answer Incorrect Answer
    D Figuring out events that when triggered, cause the risk Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Risk Management can be defined as the process of identification, assessment and prioritization of risks by an organization. Identification of risk is the process of locating the events that , when triggered cause the risk. Once the source of risk or problem is known, the possible events that the source may trigger or the events that can lead to a problem can be investigated. The method of identifying risks may depend on organizational culture, industry practice and compliance. The common risk identification methods are objective based, scenario based and industry based.

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