The process of risk management generally consists of three steps: risk identification, risk measurement, and the selection of a risk management method.

Determines $(1)$ the method that will manage a specific risk$-$that is$,$ identify whether it will be avoided, reduced, or accepted$-$and $(2)$ the risk management device that will be applied to the threat.

This statement describes to the process of

$$ selection of a risk management method.

risk measurement.

risk identification.

none of the above.