Question

Identification of opportunities and avoiding or mitigating losses is called _____________.

• A. Risk management
• B. Stress management
• C. Change management
• D. Co-ordination

Answer 1

The correct option is A Risk management

Risk management is the identification, evaluation, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.

Risk management refers to the practice of identifying potential risks in advance, analyzing them and taking precautionary steps to reduce/curb the risk.