Since a risk is something that has yet to happen--and may never happen--how much time and effort should be spent planning and preparing for it?

Why do you think it's a good idea to conduct risk assessments for security purposes?

The five methods of risk reduction need to be named and described briefly.

What do you mean by the term "risk management"?

Effective risk management would attempt to maximize the expected return for a given level of risk.   Select one: True False

From a risk management perspective, what are possible interpretations of 'probability'?

Plan for the worst-case scenario. Depending on the nature of the issue, a thorough plan for limiting the effect of the risk might take numerous forms?

You are a risk manager of a school bus company in Hong Kong, your boss owns over 1,000 school buses. During COVID 19, almost all the school buses parked in no covered car park every day because students no need to be back to school. Your boss is considering a partial retention program for physical losses to the school buses. a) Identify the factors that your company should consider before it adopts a retention program for physical damage losses to school buses. b) If a retention program is adopted, what are the various methods you can use to pay for physical damage losses to school buses? c) Identify two risk-control measures that could be used in your company’s retention program for physical damage losses

How do you build a risk model?