What is a guiding principle of composite risk management?

Business

1 answer:

xxMikexx [17]3 years ago

7 0

Explanation:

The basic principle for the risk management are as follows -

1. Do not accept unnecessary risk - unnecessary risk comes without commensurate benefits. Only absolutely necessary while Missions must be undertaken while exposing personnel and resources to the lowest possible risk.

2. Make decisions at appropriate levels to establish clear accountability, which means those responsible for success or failure must be involved in the risk decision making.

3. Accept risks when benefits outweigh the costs.

4. Integrate operational risk management (ORM) into operations and planning at all levels.

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