Question

How do you determine the scope for risk management process?

​​​​​​​(simple and original answer please, no hand writing thx)

Answer 1

The scope of the risk management process is determined by defining the scenario of the risk management process which may include the activities or organization for the risk management process. The potential risks to the organizational process, systems and assets are identified along with risk management measures to be taken for managing the risks. The goals and objectives of the risk management process is defined while determining the scope of risk management process. The framework for risk management and control is established by setting the standards for measuring the risks, the control measures and initiatives to be used in risk management process including the time and location. The roles and responsibilities in the risk management process and the inter dependence between the various functions in the organization or given situation is determined for defining the scope of the risk management process