Assets and Risk Management
Describe the key approaches to identifying threats relevant to a particular organization.
Answer previewRisk Assessment Methodologies
One of the methods in risk assessment is Quality Assessment. It refers to risk identification, analysis, and prevention. Companies look at the probability of a risk occurring and the effect it would cause on elements such as schedule, budget, quality, performance et cetera. To assess the risk effectively, dedicated assessment techniques used, such as brainstorming, historical data, strength, weakness, opportunity and threat analysis (SWOT analysis). These techniques enable business owners to get a detailed understanding of the environment they operate in and what works for or against them. Qualitative assessment of risk can be highly…
(1000 words)