A ____ plan must be developed that identifies and assesses potential risks, determines the likelihood of occurrence and potential impacts of risks, and delineates responses for dealing with risks
A) risk development
B) risk management
C) risk mitigation
D) risk avoidance

Question

Quizplus · Accepted Answer

A risk management plan is a comprehensive plan that identifies and assesses potential risks, determines the likelihood of occurrence and potential impacts of risks, and delineates responses for dealing with risks. This plan is important for organizations to effectively manage their risks and minimize the impact of potential negative events. Option A, risk development, is not a known term or phrase. Option C, risk mitigation, is a specific response outlined in a risk management plan, not the overarching plan itself. Option D, risk avoidance, is a risk response that may be included in a risk management plan, but it does not encompass the entire plan itself.

A ____ Plan Must Be Developed That Identifies and Assesses