In risk management, what involves developing controls and making risk decisions?

The focus on developing controls and making risk decisions is fundamental to the concept of a risk control strategy. This process involves identifying potential risks, assessing their impact, and determining the appropriate measures to mitigate or manage those risks. A risk control strategy includes not only the decisions made regarding risk levels, but also the implementation of controls designed to eliminate or minimize those risks. This approach ensures that resources are allocated effectively and that risks are managed proactively to enhance overall safety and operational effectiveness.

In contrast, risk assessment primarily deals with the identification and analysis of risks but does not directly involve the implementation of controls. Similarly, threat evaluation centers on understanding specific threats rather than developing strategies to manage them. Incident management focuses on responding to and managing incidents that have already occurred, rather than on preemptively controlling risks. Therefore, the emphasis on decision-making and control development distinctly aligns with the characteristics of a risk control strategy.