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What is the purpose of developing risk evaluation criteria?
What is the purpose of developing risk evaluation criteria?
- To provide a basis for evaluating risks (correct)
- To identify areas of relevance
- To evaluate the funding options for risk treatment
- To analyze the consequences of each hazard
What is the key focus of risk identification in the risk management process?
What is the key focus of risk identification in the risk management process?
- Understanding what, why, and how things can go wrong (correct)
- Identifying management priorities
- Analyzing the likelihood of hazards
- Estimating the consequences of hazards
In the risk management process, what is done during risk analysis?
In the risk management process, what is done during risk analysis?
- Combine consequence and likelihood for each hazard (correct)
- Identify areas of relevance
- Estimate funding requirements for risk treatment
- Accept and monitor low-priority risks
Why is it important to assess alternative treatment options in risk management?
Why is it important to assess alternative treatment options in risk management?
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When do risks fall into an acceptable category in the risk management process?
When do risks fall into an acceptable category in the risk management process?
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What is the definition of risk as per the provided text?
What is the definition of risk as per the provided text?
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Why is risk management crucial?
Why is risk management crucial?
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What is residual risk as mentioned in the text?
What is residual risk as mentioned in the text?
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Why is proactive risk management emphasized in the text?
Why is proactive risk management emphasized in the text?
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How does effective risk management contribute to achieving objectives?
How does effective risk management contribute to achieving objectives?
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