“Developing Risk Management Best Practices” Please respond to the following:
- Analyze a well-designed risk management plan to determine how it can prevent risk and control residual risk. Identify what you believe to be the most important step in the risk management process and explain why.
- Construct two examples that demonstrate how qualitative and quantitative methods could be applied to measure risk and prioritize risk responses. Recommend two factors that should be considered when prioritizing risk responses.