RightRisk News- August 2024

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  • Cost/Benefit Analysis: Making Good Risk Management Decisions
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A DECISION can be described as the outcome of a process that selects a preferred option or a course of action. In fact, decision making is one of the basic cognitive processes of human behaviors by which a preferred option or a course of action is chosen from among a set of alternatives based on a criteria. Viewed from another perspective, decisions are the process by which strategy is implemented. They are the basic units of choice exercised by management to move the business forward . . .

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