_______________ Assesses the Value of Each Asset Being Protected, Estimates

question 21

Multiple Choice

_______________ assesses the value of each asset being protected, estimates the probability it might be compromised, and compares the probable costs of it being compromised with the cost of protecting it.

• A)Risk analysis
• B)Risk determination
• C)Risk management
• D)Risk mitigation

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Definitions:

Value-based Pricing

A pricing approach that sets the cost of a product or service according to its perceived worth to the consumer, rather than the expenses involved in its creation.

Preventive Maintenance

Scheduled maintenance on equipment or systems aimed at preventing unexpected failures or extending their life.

Target Costing

A pricing method that involves identifying the desired profit margin and market price, then working backward to determine the maximum cost that can be incurred on a product.

Return on Investment

An indicator for assessing an investment's effectiveness, determined by dividing the net profit by the investment's total cost.