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Answer the following question in brief. Support your answers with relevant examples. 1. What is Risk Management? Why do we manage risk? 2. Discuss briefly

Answer the following question in brief. Support your answers with relevant examples. 1. What is Risk Management? Why do we manage risk? 2. Discuss briefly the steps of Risk Management. 3. Define the following concepts briefly: o Risk Tolerance o Delphi Technique o Ishikawa diagram o Risk Register o Probability and impact matrix o Decision tree analysis 4. What are the strategies you adopt to manage negative and positive risks

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