The Initial Step in the Risk Management Process Is to

question 22

Multiple Choice

The initial step in the risk management process is to

• A)Determine the level of acceptable risk.
• B)Assess the risk potential.
• C)Identify the risks.
• D)Set aside budget funds for managing the risks.
• E)Appoint a risk manager.

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Definitions:

Assembly Line

An assembly line is a manufacturing process in which parts are added to a product in a sequential manner to create a finished product efficiently.

Work-Family Conflict

The tension arising from incompatible demands between work and family responsibilities, affecting individuals' stress levels and overall well-being.

Competitive Personalities

Personality traits that drive individuals to compete, often striving to outperform others in various situations.

Aggressive

Behaving or done in a forceful and hostile manner to dominate or intimidate another.