Which of the following best defines risk management? * A physical feature or operational attribute that renders an entity, asset, system, network, or geographic area open to exploitation or susceptible to a given hazard. The management of the consequence of something happening, described in either quantitative terms of probability or frequency. The potential for an unwanted outcome resulting from an incident, event, or occurrence, as determined by its likelihood and the associated consequences. A process of identifying the potential for an unwanted outcome, determining what to do about it from among the available alternatives, and then doing it
Which of the following best defines risk management? * A physical feature or operational attribute that renders an entity, asset, system, network, or geographic area open to exploitation or susceptible to a given hazard. The management of the consequence of something happening, described in either quantitative terms of probability or frequency. The potential for an unwanted outcome resulting from an incident, event, or occurrence, as determined by its likelihood and the associated consequences. A process of identifying the potential for an unwanted outcome, determining what to do about it from among the available alternatives, and then doing it
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter9: Decision Making Under Uncertainty
Section: Chapter Questions
Problem 37P
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Which of the following best defines risk management? *
A physical feature or operational attribute that renders an entity, asset, system, network, or geographic area open to exploitation or susceptible to a given hazard.
The management of the consequence of something happening, described in either quantitative terms of probability or frequency.
The potential for an unwanted outcome resulting from an incident, event, or occurrence, as determined by its likelihood and the associated consequences.
A process of identifying the potential for an unwanted outcome, determining what to do about it from among the available alternatives, and then doing it.
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