Question

What is the first step in the risk management process for components in an SCP?

• A. Developing contingency plans
• B. Identifying potential risks
• C. Conducting market analysis
• D. Setting budget limits

Answer 1

Answer:

B. Identifying potential risks

The first step in risk management is to identify any risks associated with the component’s manufacture, supply, or use, including risks related to material shortages, supplier instability, or technical failures during testing.