Question
Which of the following are involved in the
identification of risks?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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