includes taking action to prevent or minimise the likelihood of occurrence or the impact of such unfavourable events.
A)Managing risk
B)Taking chances
C)Identifying the trigger point
D)Naming the person responsible for the risk response plan

Question

Quizplus · Accepted Answer

Managing risk involves taking proactive steps to prevent or mitigate potential negative events. This can include developing risk mitigation plans, implementing contingency plans, and regularly monitoring and assessing potential risks. Taking chances (B) involves making decisions without considering potential risks, while identifying the trigger point (C) refers to recognizing the moment when a risk event occurs. Naming the person responsible for the risk response plan (D) is only one aspect of managing risk, but it does not encompass the full scope of risk management practices.

Includes Taking Action to Prevent or Minimise the Likelihood of Occurrence