Risk needs to be analyzed using models in order to:
A) Make decisions better than those based on informed guesses
B) Obtain an optimal solution
C) Obtain a feasible solution
D) Confound the decision-making process
2. You could be expected to outline the purpose and key elements of current risk management standards. Where would you find this information and how does it link to AS/NZS ISO risk management standards? (200 words)
3. Why should risk management data and plans be documented and appropriately stored?