Question

T/F: Risk management, a formalized way of dealing with hazards, is the logical process of weighing the potential costs of risks against the possible benefits of allowing those risks to stand uncontrolled.

Answer 1

True

Step-by-step explanation:

Remember, risk can be weighted using certain parameters to see whether the potential costs of those risks is lower or higher than the possible benefits of allowing those risks to stand uncontrolled.

What makes this a "logical process of thinking" is the fact that it involves a careful mental evaluation of the risk, by asking the what ifs questions about the risk.