Planning for Risk
By the end of this chapter, you will be able to:
• Define risk, risk management, residual and secondary risk, business and insurance risk, opportunity and threat, and the steps in a risk management process.
• Apply the concept of risk tolerance to both level of risk and category of risk.
• Conduct a risk identification process using document analysis, interviews, assumption analysis, and other techniques.
• Cite the fundamental formula of risk management (R=PxI), and apply it using decision tree analysis, risk buckets, and filtering.
• Develop risk response solutions using eight different techniques. ...