Risk management focuses on anticipating risk in situations and factoring risk alternatives into the decision-making process.

Question

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Risk management involves identifying potential risks and developing strategies to mitigate or manage them. This requires anticipating different scenarios and considering the likelihood and impact of each risk. These risk alternatives are then factored into the decision-making process to ensure that the best possible outcome is achieved with minimal negative consequences.

Risk Management Focuses on Anticipating Risk in Situations and Factoring