Risk Management Strategy Flashcards
1
Q
Establish the context
A
Establish the context of the risk by planning, identifying objectives and analyse situations.
2
Q
Identification
A
Identify the risk and manage it.
3
Q
Assessment
A
Assess the potential risk and value the risks.
4
Q
Potential Risk treatments
A
risk transfer through party transfers and risk avoidance/risk retention and control.
5
Q
Create the plan
A
create a strategic plan for a risk.
6
Q
Implementation
A
Implement risk management by buying insurance or make employees sign papers.
7
Q
Review and evaluation of the plan
A
Practice and analyse a risk management plan.
