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The operational areas that risk management is concerned are broad and varied. They include process and procedural robustness and integrity; people, skills, and training; insurance and self-insurance; the supply chain, outsourcing, and inherent risk; infrastructure, systems, and telecommunications; and physical and information security.
. · Risk avoidance: Altering organizational behavior to eliminate a given risk. Risk limitation: Taking measures to reduce risk, short of completely eliminating it. Incorporates a combination of the strategies of risk avoidance and riskacceptance. 2) Is the vendor resilient?
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