risk management program

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6 Terms

1
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avoidance

removing the possibility of danger and injury by eliminating the activity

2
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transfer

by moving the risk to others through wavers and insurance policies

3
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reduction

by modifying the activity to reduce risks

4
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retention

of risk in the low category where the benefits outweigh the potential risks

5
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implementation

instituting the plan

6
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evaluation

involves continually assessing the outcome of risk management endeavors