New Register here for RBI, SEBI & NABARD strategy workshop! April 9 at 7 PM

    Question

    Which among the following is not a risk management

    technique:
    A Transfer Correct Answer Incorrect Answer
    B Tolerate Correct Answer Incorrect Answer
    C Terminate Correct Answer Incorrect Answer
    D Treat Correct Answer Incorrect Answer
    E Tack Correct Answer Incorrect Answer

    Solution

    Risk management technique are Transfer, Tolerate, Terminate, and Treat. Transfer - This risk management technique involves transferring the risk to another party. This could be done through insurance, outsourcing, or contractual agreements. By transferring the risk, the responsibility for managing the risk is shifted to another party. Tolerate - This risk management technique involves accepting the risk and choosing not to take any action to manage it. This is often done for risks that are low impact or low likelihood, or for risks that are too expensive to manage. Terminate - This risk management technique involves eliminating the risk altogether. This can be done by changing the project scope, changing the process or procedure, or avoiding the risk altogether. Treat - This risk management technique involves taking action to reduce the likelihood or impact of the risk. This can be done by implementing controls or safeguards, modifying processes or procedures, or developing contingency plans. This technique is often used for risks that are medium to high impact or likelihood.

    Practice Next

    Relevant for Exams: