Communication and consultation: This step sets the tone for risk decisions at every level., Establishing the context: This step requires defining the organization's unique risk appetite and risk tolerance., Risk identification: This step defines the risk scenarios that could have a positive or negative impact on the organization's ability to conduct business., Risk analysis: This step analyzes the likelihood and impact of each risk to help sort them., Risk evaluation: This step determines how to respond to the risks the company faces., Risk treatment: This step involves applying the agreed-upon controls and processes and confirming they work as planned., Monitoring and review: This step deals with controls , whether they're working as expected or need to be improved.,

RM - Building a plan - Steps

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