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Develop a risk management strategy. This should outline the four key stages of an international organisations Risk Management Life Cycle. For each stage, describe the What, Why, How and Outputs in your own words.
The risk management strategy should include two potential risks in your own area of work. This can include any recently identified risks. You will need to ensure that the following details are included:
a rationale for the method used to identify the potential risks
how information has been used to assess the potential risks
five reasons for allocating risk management responsibilities internally and externally
how to communicate identified risks in accordance with operational objectives
a risk monitoring and risk evaluation strategy
ongoing risk reporting requirements
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