- Identify objectives of the risk management program.
- Identify risk exposures.
- Assess the severity and probability of identified risk exposures.
- Identify options for mitigating risk exposures (exposure avoidance, exposure reduction, risk retention, and / or risk transfer).
- Select the most appropriate options for mitigating risk exposures.
- Implement risk management program.
- Monitor and update risk management program as appropriate.
Bentley Makkar
April 8, 2023
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