Question

In risk management, What does risk evaluation involve

Answer 1

Answer:

Risk Evaluation simply Evaluates the Risk Analysis which was done to know about the Risk.

Explanation:

Risk Management is the process of managing risks involved in business or may be at individual level by identifying the risks involved and the measures taken to avoid or minimize that risk.

There are three simplest rules of Managing the Risk. First of all, you need to know what you are doing. Second step is to find out or to Know the risk involved. In this stage you identify and evaluate the severity of risk. Then comes the third and final step in which you develop measures to avoid or minimize as much risk as possible.

The evaluation in the Risk Management involve identifying and finding out the severity and intensity of the risk associated with something.

Answer 2

Risk Management is the process of identifying, analyzing and responding to risk factors throughout the life of a project and in the best interests of its objectives. Proper risk management will reduce not only the likelihood of an event occurring, but also the magnitude of its impact.