Risk management is part of the planning function of management. Put the following steps of risk management in order from the first step (1) to the last (5).

Question

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The first step in risk management is to anticipate and seek sources of risk (C). This is followed by analysing, classifying, and prioritising risks (A) in order to properly address them. Once this is done, a plan can be developed to avoid and manage risk (D). After the plan is in place, it should be evaluated and modified (B) if necessary. Finally, data should be gathered to indicate success at avoiding or minimising risk (E).

Risk Management Is Part of the Planning Function of Management