What are the steps in the Comprehensive Risk Approach?

The correct sequence in the Comprehensive Risk Approach involves identifying risks, evaluating those risks to understand their potential impact, prioritizing them based on their significance and urgency, and then mitigating them through appropriate strategies. This structured process ensures that risks are not only recognized but also analyzed for their severity, allowing organizations to allocate resources effectively and address the most critical risks first. By prioritizing, it helps teams focus on the areas that could cause the most significant issues, thus enhancing overall safety and operational efficiency.

The other sequences provide relevant components of risk management, but they do not fully encapsulate the focus and order that the Comprehensive Risk Approach requires. For instance, some options may mix action-oriented steps or focus on monitoring and adjustment rather than the core elements of identifying, evaluating, prioritizing, and mitigating risks, which are essential for a comprehensive understanding and management of risks in various scenarios.