How are risk outcomes measured?
In economics and finance, risk is the measured by the extent of dispersion {i.e. deviation) of possible outcomes from the expected value.
What is the outcome of risk management?
Essentially, the goal of risk management is to identify potential problems before they occur and have a plan for addressing them. Risk management looks at internal and external risks that could negatively impact an organization.
What are the 4 main risk responses?
Since project managers and risk practitioners are used to the four common risk response strategies (for threats) of avoid, transfer, mitigate and accept, it seems sensible to build on these as a foundation for developing strategies appropriate for responding to identified opportunities.
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