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Administrative agencies must rely on the voluntary state?ments of third parties to fulfill the agencies' fact-gather?ing function.
Monte Carlo Simulation
A computational algorithm that uses repeated random sampling to obtain numerical results, typically used to assess risk and uncertainty in prediction and modeling.
Contingency Funds
Reserved money set aside by organizations or projects to address unforeseen events or emergencies that may incur additional costs.
Risk Profile
A risk profile is a quantified analysis of the types of threats an organization, asset, project, or individual faces, focusing primarily on the risk exposure level.
Political Risk
The potential for losses or adverse effects on company operations and profitability due to political changes or instability in a country.
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