Which of the following cannot be used for proactive risk …

Business Questions

Which of the following cannot be used for proactive Risk Management?Select the correct option(s).A. Major Incident Communication (MIC) mobile Application B. Risk Assessment Questionnaires (RAQs) C. Production Access Vulnerability Assessment D. Operations Readiness Checks

Short Answer

The analysis identifies that Major Incident Communication (MIC) mobile application is a reactive tool, focusing on incident management after they occur, and thus cannot be utilized for proactive Risk Management. In contrast, the other options are proactive as they help identify and mitigate risks before they manifest.

Step-by-Step Solution

In this question, we assess which option cannot be utilized for proactive Risk Management. Follow these three steps for clarity:

Step 1: Understanding Proactive Risk Management

Proactive Risk Management is the process of anticipating and addressing potential risks before they manifest. It requires a focus on early identification and mitigation of risks through systematic strategies. Key components include:

  • Identifying potential risks through thorough analysis
  • Assessing the impact and likelihood of risks
  • Implementing preventive strategies to mitigate those identified risks

Step 2: Analyzing the Options

Each option provided in the question must be evaluated to determine its relevance to proactive Risk Management. Below are the insights into each option we considered:

  • A. Major Incident Communication (MIC) mobile Application: Used for managing incidents after they occur, making it reactive.
  • B. Risk Assessment Questionnaires (RAQs): Helps to identify and evaluate potential risks early on, serving a proactive purpose.
  • C. Production Access Vulnerability Assessment: Identifies vulnerabilities in real-time, thus acting proactively.
  • D. Operations Readiness Checks: Ensures readiness and addresses potential risks prior to operations, also proactive.

Step 3: Conclusion of Analysis

After examining all the options, we can conclude that the tool which cannot be classified as a proactive Risk Management approach is:

  • A. Major Incident Communication (MIC) mobile Application: This option focuses on managing incidents post-event, clearly not fitting the proactive risk management criteria.

Related Concepts

Proactive Risk Management

The process of anticipating and addressing potential risks before they manifest, focusing on early identification and mitigation of risks through systematic strategies.

Risk Assessment Questionnaires (Raqs)

Tools used to identify and evaluate potential risks early on, serving a proactive purpose in risk management.

Reactive Risk Management

An approach that focuses on responding to risks after they have occurred, rather than preventing them beforehand.

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