Review and evaluation is an important step in the risk management process because
A) conditions change and mistakes may be identified.
B) it is nearly impossible to evaluate risk effectively.
C) of the challenges in identifying small business risks.
D) it is difficult to select effective methods.

Question

Quizplus · Accepted Answer

Review and evaluation are important in the risk management process because conditions can change and mistakes can be identified. By conducting regular reviews and evaluations, organizations can identify new risks that may have emerged, assess the effectiveness of current risk management strategies, and make any necessary adjustments to ensure they are protecting their assets and achieving their objectives. Without this step, it would be difficult to keep up with the constantly changing landscape of risks that organizations face.

Review and Evaluation Is an Important Step in the Risk