Following is (are) the component(s) of risk management
A)Risk Assessment
B)Risk Control
C)Risk Ranking
D)All of the above

Question

Quizplus · Accepted Answer

Risk management involves identifying, assessing, and prioritizing risks (Risk Assessment), followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities (Risk Control). Risk Ranking is a part of the broader process of Risk Assessment, where risks are prioritized based on their severity, likelihood, or other criteria. Therefore, all the options listed are components of risk management.

Following Is (Are) the Component(s) of Risk Management