Question

The __________ converts the instructions and perspectives provided to the RM framework team into cohesive guidance that structures and directs all subsequent risk management efforts.

Answer 1

Answer:

risk management policy

Explanation:

A risk management policy is a documented statement of risks associated with carrying out a particular action and also guidance on how to manage the risks. Several activities come with their own risks, hence it is necessary for an organisation to create a risk management policy to define those risks and how to overcome them.  A risk management policy also outlines the persons to perform the activities that are associated with the defined risks.

A risk management policy helps to maintain financial sustainability, protects the assets of the business and also protects the staff and objectives of the company.