ISO-31000-CLA Exam Dumps : ISO 31000 - Certified Lead Risk Manager

According to , page 13-14, probability multiplied by impact equals risk magnitude which is “a measure that reflects both likelihood and consequences”. It can be used as an indicator for prioritizing risks.

External and internal risks are significant risks of reporting that are outside the risk appetite of the organization and can impact compliance, which may also be reportable to regulatory agencies1. These risks may arise from external factors such as market changes, natural disasters, or cyberattacks, or internal factors such as human errors, fraud, or system failures.

Human element is often the biggest challenge in risk implementation. Human element involves overcoming resistance to change, engaging stakeholders, building trust and commitment, and fostering a positive risk culture.