4. The ERM Process Flashcards
The risk … stage of risk managment will be used across all the other ERM process stages.
Communication & consultation
The … stage of risk management will provide information on the likelihood of risks and opportunities occurring and the impact of them to aid in the decision making process.
Risk analysis
The … stage of risk management will evaluate the results obtained in the risk analysis stage.
Risk evaluation
The … stage is a key stage in the ERM process. It may become necessary for a business to review all the previous stages in the risk management process because new information became available or circumstances changed in the business.
Risk monitoring & review
The … stage of risk management will assist the business to design a specific action plan and produce strategic responses to address the risks and opportunities identified in the business to secure business objectives.
Risk treatment
Through …, the business will be able to identify the key risks and risk events associated with the business.
Risk identification
What are the 7 stages within risk management?
- Establishing the context
- Risk identification
- Risk analysis
- Risk evaluation
- Risk treatment
- Monitoring & Review
- Communication & Consultation
