What Is the Primary Purpose of a Risk Management Program

question 234

Multiple Choice

What is the primary purpose of a risk management program?

• A) Reduce risk to a tolerable level.
• B) Reduce all risks regardless of costs.
• C) Transfer all risks to external third parties.
• D) Identify every significant risk to avoid it.

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Definitions:

Likert Scale

A psychometric scale commonly used in surveys to measure attitudes or opinions, where respondents indicate their level of agreement or disagreement with a series of statements on a linear scale.

Judges

Individuals appointed or elected to rule on legal matters and disputes in courts.

Five-Point Scale

A rating system that measures opinions, experiences, or responses using five distinct options typically ranging from very low to very high.

Cumulative

Describes something that increases or accumulates over time.