To apply the structured and comprehensive principle, it is essential to have a consistent approach towards risk management in decision-making process. How could it benefit the organization?

Risks are never static, they always emerge, change, and disappear as time goes by. Hence, a risk management has to have apply the principle of:

Why should risk management involve the relationships with internal stakeholders in designing the framework?

Which one of the following is part of risk treatment?

Regardless the circumstances and industries, what must entail a risk?

You are appointed as a leader of the production department in an organization. You are a risk owner toward your particular department’s objective which is to manufacture the goods in an effective and efficient manner. What would be your risks?

The context of the risk management process will vary according to the needs of an organization. It can involve the following:

Risk management unit tries to collect all relevant risks in organization. They will interview you as a key person in your division. In your perspective, disclose all the risk infomation is a bad image; it indicates you have failed to manage your risks. According to the case, which risk management principle have you violated based on ISO 31000:2018?

A fast-food restaurant chain recognizes a sudden growth of market’s demand in the next month. To manage the up-side risks, the Board of Director increase the inventories so they have more stock of raw materials in all of their restaurants across the country. Accordingly, the capacity is increased. With regards to that particular risk and control, what is the plausible residual risk?

Implementing risk management can be tough, especially when it comes to people perception, motivation, and attitudes toward the newly applied principles, framework, and process. Hence, it needs: