Question

For risk management, what two critical elements are necessary to help you identify and mitigate some problems before they become full-fledged disputes and adverse incidents?

Answer 1

Two critical elements for identifying and mitigating problems in risk management are gathering information and identifying the unknowns.

Step-by-step explanation:

To mitigate problems before they become disputes and adverse incidents in risk management, two critical elements are necessary: gathering information and identifying the unknowns.

1. Gathering information: This involves gathering information from customers and other stakeholders and finding expert information through various sources.
2. Identifying the unknowns: This involves conducting a root cause analysis to determine the real problem and identifying what needs to be determined.