Steps taken to reduce and manage the risk to within acceptable means is best considered to be an example of:
A) Risk Avoidance
B) Risk Control
C) Risk Transfer
D) Risk Acceptance

Question

Quizplus · Accepted Answer

Reducing and managing risk falls under the category of risk control, which involves implementing measures to mitigate, eliminate or transfer the potential impact of risks. Risk avoidance involves eliminating the activity that poses the risk altogether, while risk transfer involves shifting the potential impact to a third party. Risk acceptance is generally the option when the cost of mitigation outweighs the benefits, and the organization decides to simply tolerate the risk.

Steps Taken to Reduce and Manage the Risk to Within