____ Involves Developing an Action Plan to Reduce the Likelihood

question 69

Multiple Choice

____ involves developing an action plan to reduce the likelihood of occurrence or potential impact of each risk, establishing a trigger point for when to implement the actions to address each risk, and assigning responsibility to specific individuals for implementing each response plan.

• A) Risk assessment
• B) Risk management strategy
• C) Risk response planning
• D) Risk impact statement

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Definitions:

Developed Nations

Countries with advanced economic development, high standards of living, and well-established infrastructures.

Less Developed

Term often used to describe countries with lower levels of industrialization, technological advancement, and economic productivity compared to more developed nations.

Life Expectancy

The average age to which a person is expected to live based on demographic factors such as current age, gender, and health conditions.

Developed Nations

Countries that have a high level of economic development, advanced technological infrastructure, and higher standards of living among their populations.