The statement, "You are more likely to control risks when they are identified earlier rather than later" is associated with what Risk Management principle?

Question

Denisse Rocha

Business

12 October, 14:25

The statement, "You are more likely to control risks when they are identified earlier rather than later" is associated with what Risk Management principle?

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Answers (1)

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Jairo Hatfield · Answer 1

Risk Control

Explanation:

The statement, "You are more likely to control risks when they are identified earlier rather than later" is associated with the Risk Control Management principle.

Risk control is more effective when risk identification is undertaken early enough so that control measures are put in place to mitigate such risks, otherwise there will be a shift from 'risk control' to 'damage control' once any of those risks materializes.