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The 1st Step in the Risk Management Process Is To: Select One Answer Determine the Level of Risk Assess the Risk Potential Identify the

Question

The 1st step in the risk management process is to: Select one answer Determine the level of risk Assess the risk potential Identify the risk

Answer

4.2 (293 Votes)
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Teddy Master · Tutor for 5 years

Answer

Identify the Risk

Explanation

## Step1: Understanding the Risk Management Process is crucial for solving this question. The Risk Management Process typically follows these steps: 1. Identify the Risk, 2. Analyze the Risk, 3. Evaluate or Rank the Risk, 4. Develop Responses, and 5. Monitor. ## Step2: Accordingly, the first stage in the risk management process in any framework, and most certainly in any real life situation, would be to 'Identify the Risk'. Risk identification is orienting oneself with a potential challenge before one can begin to take the necessary steps to tackle it.