risk management

Question 1

what is intangible risk?

Answer 1

a risk that has a high chance of occurring, but the consequences are unknown

Question 2

why is an intangible risk difficult to manage?

Answer 2

1) not enough is known about the it in order to put measures in to place to manage
2) not always easy to manage

Question 3

what is the process of risk management?

Answer 3

1) risks of a situation should be identified and considered throughout the entire procedure

2) consider how probable the risk is of occurring + the severity of the consequences

3) measures can then be out in place to lower the chances of a risk occurring