Which of the following is true for risk management frameworks, standards and practices?
Each correct answer represents a part of the solution. Choose three.
A.
They act as a guide to focus efforts of variant teams.
B.
They result in increase in cost of training, operation and performance improvement.
C.
They provide a systematic view of “things to be considered” that could harm clients or an
enterprise.
D.
They assist in achieving business objectives quickly and easily.
Explanation:
Frameworks, standards and practices are necessary as:
They provide a systematic view of “things to be considered” that could harm clients or an
enterprise.
They act as a guide to focus efforts of variant teams.
They save time and revenue, such as training costs, operational costs and performance
improvement costs.
They assist in achieving business objectives quickly and easily.