Question: 1. Explain how risk is essential for determining which risks require immediate attention and resources. 2.Discuss methods and criteria used for risk evaluation, such as

1. Explain how risk is essential for determining which risks require immediate attention and resources.

2.Discuss methods and criteria used for risk evaluation, such as likelihood, impact, and risk tolerance.

3. Provide examples of how risk evaluation guides the development of risk mitigation strategies and action plans.

4. Emphasize the role of risk evaluation in optimizing resource allocation and risk reduction

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