GAP Risk Management

Question 1

Risk Management is the process of making and carrying out decisions that minimize the adverse effects of accidental loss. It involves five steps….

Answer 1

1. Identifying exposure to loss.
2. Examining alternative techniques.
3. Selecting the best techniques.
4. Implementing the chosen techniques.
5. Monitoring and improving the risk management program.

Question 2

Management involves four key activities:

Answer 2

1. Planning
2. Organizing
3. Leading
4. Controlling