____ involves developing an action plan to reduce the likelihood of occurrence or potential impact of each risk, establishing a trigger point for when to implement the actions to address each risk, and assigning responsibility to specific individuals for implementing each response plan.
A) Risk assessment
B) Risk management strategy
C) Risk response planning
D) Risk impact statement

Question

Quizplus · Accepted Answer

Risk response planning involves developing an action plan to address each identified risk, establishing a trigger point for when to implement the plan, and assigning specific individuals responsibility for implementing the plan. Risk assessment identifies potential risks, while risk management strategy outlines the overall approach to managing risks. Risk impact statement outlines the potential consequences of each identified risk.

____ Involves Developing an Action Plan to Reduce the Likelihood