Question

what is the most important component of an effective risk management system? elaborate in detail.​

Answer 1

Answer:

There are at least five crucial components that must be considered when creating a risk management framework. They include risk identification; risk measurement and assessment; risk mitigation; risk reporting and monitoring; and risk governance.

Answer 2

Answer:

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Step-by-step explanation:

There are at least five crucial components that must be considered when creating a risk management framework. They include risk identification; risk measurement and assessment; risk mitigation; risk reporting and monitoring; and risk governance.

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