Which of the following is / are TRUE about risk analysis? Choose all that apply. ◻ Risk analysis involves a detailed consideration of the uncertainties ◻ Purpose of analysis may influence the detail and complexity of risk analysis ◻ Risk analysis involves a detailed consideration of controls ◻ Availability of information may influence the detail and complexity of risk analysis

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Which of the following is / are TRUE about risk analysis? Choose all that apply.  ◻ Risk analysis involves a detailed consideration of the uncertainties  ◻ Purpose of analysis may influence the detail and complexity of risk analysis  ◻ Risk analysis involves a detailed consideration of controls  ◻ Availability of information may influence the detail and complexity of risk analysis

pressacvt · Accepted Answer

1. Be mindful not to confuse Risk Analysis with Risk Assessment. The latter is the process of formally analyzing and mitigating the risks and hazards of an activity by an employee for their health and safety. 2. Don&#039;t rush this step. Gather as much information as you can so that you can accurately estimate the probability of an event occurring, and the associated costs. Use past data as a guide if you don&#039;t have an accurate means of forecasting.3. Look for cost-effective approaches – it&#039;s rarely sensible to spend more on eliminating a risk than the cost of the event if it occurs. It may be better to accept the risk than it is to use excessive resources to eliminate it.Be sensible in how you apply this, though, especially if ethics or personal safety are in question.4. Risk Analysis is a proven way of identifying and assessing factors that could negatively affect the success of a business or project. It allows you to examine the risks that you or your organization face, and helps you decide whether or not to move forward with a decision.You perform a Risk Analysis by identifying threats, and estimating the likelihood of those threats being realized.Once you&#039;ve worked out the value of the risks you face, you can start looking at ways to manage them effectively. This may include choosing to avoid the risk, sharing it, or accepting it while reducing its impact. Not only can this help you to make sensible decisions but it can also alleviate feelings of stress and anxiety.It&#039;s essential that you&#039;re thorough when you&#039;re working through your Risk Analysis, and that you&#039;re aware of all of the possible impacts of the risks revealed. This includes being mindful of costs, ethics, and people&#039;s safety. This are all of true about risk analysis the following all options are true.

Which of the following is / are TRUE about risk analysis? Choose all that apply. ◻<!-- ◻

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