1. Concepts of the Risk-Based Approach
It enables the organization to focus on identified risks and take enhanced measures in situations according to the level of the risks. The implementation of the risk-based approaches helps in avoiding consequences of inappropriate de-risking characters. ... Risk entities are categorized into low and higher risks to ensure effective practical measures are applied in tackling them. Higher risk requires long-term investigative measures compared to low-risks. ... Communication helps in understanding geographical, volume and size of the risk factor and appropriate measures are applied. ...
- Word Count: 1603
- Approx Pages: 6
- Has Bibliography
- Grade Level: Graduate