What are the primary steps involved in the risk management process?
- Identify, Analyze, Respond, Monitor
- Identify, Mitigate, Evaluate, Review
- Identify, Assess, Plan, Implement
- Identify, Control, Avoid, Accept
In the risk management process, the primary steps involve identifying risks, assessing their potential impact, planning responses, and implementing those responses. Option 3 correctly represents these steps. Identification of risks is followed by assessment, planning, and implementation of strategies to manage or mitigate those risks.
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