Management decides to implement a risk management system to reduce and maintain the organization's risk at an acceptable level. Which of the…

The correct order in the risk management phase starts with Risk Identification, where potential

business risks are determined. This is followed by Risk Assessment, which involves analyzing and

prioritizing the identified risks. Next is Risk Treatment, where plans are made to mitigate the risks.

Finally, Risk Monitoring & Review is conducted to oversee the risk management process and make

necessary adjustments. This sequence ensures a structured and effective approach to managing risks

within an organization. Reference: The sequence aligns with the widely recognized ISO 31000 risk

management standard, which outlines these core steps in managing risks123.