What are four possible actions that you can take in response to an identified risk? Group of answer choicesAccept / Mitigate / Transfer / AvoidAnalyse/ Insure / Implement / ReviewAccept / Analyse / Treat / TransferTreat / Report / Insure / Cancel
Question
What are four possible actions that you can take in response to an identified risk? Group of answer choicesAccept / Mitigate / Transfer / AvoidAnalyse/ Insure / Implement / ReviewAccept / Analyse / Treat / TransferTreat / Report / Insure / Cancel
Solution
The four possible actions that you can take in response to an identified risk are: Accept, Mitigate, Transfer, and Avoid.
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Accept: This means that you have recognized the risk but have decided not to take any immediate action. This is often because the cost of mitigating the risk is higher than the potential loss or because the risk is unlikely to occur.
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Mitigate: This involves taking steps to reduce the likelihood or impact of the risk. This could involve implementing new procedures or controls.
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Transfer: This involves shifting the risk to another party. This is often done through insurance or by outsourcing a particular activity or process.
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Avoid: This involves changing plans
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