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According to ISO 31010, Risk assessment attempts to answer which of the following fundamental questions?

 

A) what can happen and why (by risk identification)?

B)  what are the consequences?

C) what is the probability of their future occurrence?

D)  are there any factors that mitigate the consequence of the risk or that reduce the probability of the risk?

E) All of the above 

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Question added by Nancy Refai , Health, safety and environmental management Trainer and consultant , Freelancer
Date Posted: 2016/01/11
Shahaad Kala
by Shahaad Kala , Financial Accountant , FedEx Express

E)

Risk assessment involves assessing risks associated with a specific area/project/process etc.

 

One would consider risks associated with the item, consider these risks, rate the risks based on severity and then take into account the probability of occurrence of the risk.

 

Controls in place could also be considered to perform a residual risk rating.

Anuj Chadha
by Anuj Chadha , Head of Operational Risk , Ahli United Bank

all of the above as risk assessment not only identifies the risk but it will also assess the risk in terms of likelihood and impact and also assesses the control effectiveness to ensure residual risk is with bank's apetitie level

Sunil Kumar Kushwaha
by Sunil Kumar Kushwaha , Section Head Environment , Monnet Ispat & Energy Ltd., Raigarh

Assessment of risk from environmental aspects terms of concequences and their probabilities from identified area.

Nancy Refai
by Nancy Refai , Health, safety and environmental management Trainer and consultant , Freelancer

E) Alll of the above 

 

According to ISO0, Risk assessment is "that part of risk management which provides a structured process that identifies how objectives may be affected, and analyses the risk in term of consequences and their probabilities before deciding on whether further treatment is required."

Thus, the assessment process should work to identify the risks, their consequences, probabilities and any possible mitigation factors which is all of the above  

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