Question

REGARDING RISK ASSESSMENT

What’s the recommendation by the risk assessment team? What are the final decisions made by HGA management? Justify their decisions based on cost benefit analysis.

PLEASE MAKE COPY PASTE AVAILABLE

MUST BE 250 WORDS

Answer 1

What’s the recommendation by the risk assessment team?

Ans:

• Implementation of procedural changes that ensure that risk assessments take full advantage of the available scientific knowledge while maintaining the diverse organizational approaches to administration of risk assessment needed to accommodate the varied requirements of federal regulatory programs.

• Standardization of analytic procedures among federal programs through the development and use of uniform inference guidelines.

• Creation of a mechanism that will ensure orderly, continuing review and modification of risk assessment procedures as scientific understanding of hazards improves.

Final decisions made by HGA's are related to the financial resources like: payroll frauds, Payroll errors, and Loss of information due to virus contamination

The results of the analysis are often expressed as a payback period – this is the time it takes for benefits to repay costs. Many people who use it look for payback in less than a specific period – for example, three years.

You can use the technique in a wide variety of situations. For example, when you are:

• Deciding whether to hire new team members.
• Evaluating a new project or change initiative.
• Determining the feasibility of a capital purchase.

However, bear in mind that it is best for making quick and simple financial decisions. More robust approaches are commonly used for more complex, business-critical or high cost decisions.

Let me know if you have any doubts or if you need anything to change. 

If you are satisfied with the solution, please leave a +ve feedback : ) Let me know for any help with any other questions.

Thank You!
===========================================================================