Which of the following processes is used by organizations to set the risk tolerance, identify the potential risks, and prioritize the tolerance for risk?
i will go with RISK ANALYSIS. Because it involves assessing the potential impact and likelihood of identified risks and determining the level of risk that an organization is willing to accept
(Risk analysis) is the process of assessing and analyzing identified risks, but it does not encompass setting risk tolerance or prioritizing risk in the full context of risk management.
BABOK V3 speaks only on "Risk analysis and Management" which identifies areas of uncertainty that could negatively affect values (BABOK 10.38.1)
There is no separation between this two tasks
Also risk communication doesn't exist anymore
Risk identification is the task to discover and identify risks through a combination of experts, users, stakeholders and past experiences.
Risk management is an ongoing activity. Continuous consultation and
communication with stakeholders helps to both identify new risks and to monitor
identified risks.
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