GAQM ISO-31000-CLA ISO 31000 - Certified Lead Risk Manager Exam Practice Test

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Risk management is becoming the basis for all decision making2. Risk management helps organizations to identify opportunities and threats, evaluate alternatives, and make informed choices.

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Inclusiveness is another critical attribute of good risk management. Inclusiveness helps to ensure that different perspectives, knowledge, and values are considered in risk management.

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Transparency and inclusiveness are key ISO 31000:2018 attributes. Transparency means that risk management activities are visible, understandable, and verifiable by relevant stakeholders. Inclusiveness means that appropriate stakeholders are involved in risk management decisions and actions.

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ISO 31000:2018 offers a generic outline for the design of the risk management framework and process. ISO 31000:2018 provides guidelines that can be adapted to any organization's situation and circumstances.

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Risk management is tailored4. Tailored means that risk management takes into account the specific needs, objectives, and characteristics of each organization and its context.

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Systematic means doing something according to a plan or method. Systematic implies orderliness, consistency, and rigor in applying risk management.

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Risk management is systematic, structured, and timely4. Systematic means that risk management follows a logical and consistent approach. Structured means that risk management has clear steps, roles, and responsibilities. Timely means that risk management provides information in time for decision making.