Risk Management Flashcards
1
Q
Risk Management
A
having a plan on how to deal with potential possible future losses
2
Q
Risk avoidance
A
just not taking the chances of risk
3
Q
Risk reduction
A
taking measures to reduce the risk
4
Q
Risk transference
A
Transferring the risk to another party
5
Q
Risk retention
A
handling the risks yourself (Self insurance )
