Question

How much influence do you think any one individual should have alone on key risk management decisions?

Answer 1

Q: How much influence do you think any one individual should have alone on key risk management decisions?

A: Risk management must always be spread out to mitigate the risk and critical decision making should never be left in the hands of one person in order to ensure the risk is assessed, evaluated, or measured, to support decision making it is always best to have more than one person involved in risk management. This is also because putting more than one mind together to discuss, assess, and decide can lead to better decisions since there are lots of variables in risk management, one person may not be able to assess all the risk aspects and can miss out on certain aspects or even lose out on a comprehensive plans due to limitations of ideas and experiences. Also, putting all the decision making on one person allows scope for misuse and fraud so it is always best to have more than one person to cover all these aspects and have better risk management decisions.