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Risk management (KGNB_NETA002)
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Communication and consultation accompany and frame the entire process.
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The main question of monitoring and feedback is:
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Monitoring and feedback examine whether risk management measures were effective.
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The main stages of risk assessment are:
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The purpose of the risk management process is to reduce uncertainty related to the operation of the organization.
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Risk assessment includes risk identification, risk analysis, and risk evaluation.
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If both the frequency and expected impact of a risk are high:
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The risk management process is useful only for management; employees have no role in it.
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If the frequency is low but the expected impact is high:
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Quantitative analysis does not require historical data.
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