The Oxford English Dictionary depicts risk as a chance or
possibility of danger, loss, injury or...
90.2K
Verified Solution
Link Copied!
Question
Finance
The Oxford English Dictionary depicts risk as a chance orpossibility of danger, loss, injury or other adverse consequences.Risk is used primarily to signify negative consequences. However,in some cases taking a risk can generate a positive outcome. Whatis meant by the terms ‘risk assessment’ and ‘risk management’? Whyare they considered two very important concepts?Explainthe differences between risk assessment and damageassessment.
Answer & Explanation
Solved by verified expert
4.4 Ratings (545 Votes)
RISKASSESSMENT Risk assessment is a term used to describe the overall processor method where youIdentify hazards and risk factors that have the potential tocause harm hazard identificationAnalyze and evaluate the risk associated with that hazard riskanalysis and risk evaluationDetermine appropriate ways to eliminate the hazard or controlthe risk when the hazard cannot be eliminated risk controlImportance ofRisk
See Answer
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
