Question

What is the potential downside of the "assess and respond" approach when executing a risk response strategy?

Answer 1

Answer:

Going down this assess and respond route could cost you nothing if it works. But if the result isn't the level of quality you need, you could incur triple constraint impacts when you least need those challenges.

Answer 2

The only disadvantage of the access and response strategy is a delay in decision-making.

Explanation:

1. When a business is dealing with risk management, it requires a fast response to all the stimuli from the internal as well as external environment of the business.
2. However, the strategy of assessing and responding is one where the situation it was did analyze and then a reaction is planned out.
3. This process takes a lot of time and the delay in response could cause a huge business to any firm.
4. Even after all the delay in responding, the results in favor of the firm are not promised.