Question

In Step 5 of the Risk Management process, Supervise and Evaluate, when is action taken to correct ineffective risk controls and reinitiate risk management steps?

Answer 1

Action is taken to correct ineffective risk controls and reinitiate risk management steps in Step 5 of the Risk Management process.

Step-by-step explanation:

In Step 5 of the Risk Management process, Supervise and Evaluate, action is taken to correct ineffective risk controls and reinitiate risk management steps when necessary.

During the Supervise and Evaluate phase, the effectiveness of the risk controls implemented in Step 4 is assessed. If any controls are found to be ineffective, action is taken to correct them. This may involve implementing new controls or modifying existing ones to better manage the identified risks.

Once the ineffective risk controls have been corrected, the risk management steps are reinitiated to continue the process of identifying, analyzing, and managing risks.