Option D is the way to go! Ranking risks based on likelihood is the foundation for any good risk management strategy. The other options are just secondary considerations.
Hmm, I'm not sure. Option C seems more practical to me. Knowing the cost of controls is important to make informed decisions and allocate resources effectively.
I would go with option B. Getting input from the business units is crucial to understand the true impact of the risks and how they should be addressed.
Comparing risk rating against appetite is definitely the most helpful in prioritizing action plans. It gives you a clear picture of how much risk the organization is willing to accept.
Bettyann
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