The step that involves selecting the appropriate combination of techniques for risk control and risk financing is which step?

The step that involves selecting the appropriate combination of techniques for risk control and risk financing is which step?

• A. Step 3
• B. Step 1
• C. Step 2
• D. Step 4

Answer: (A)

Choosing the mix of risk control techniques and risk financing methods is where you design how to reduce risk to an acceptable level by coordinating what you do to prevent or lessen harm with how you pay for and share that risk. After hazards are identified and the risk is assessed, this step brings together practical preventive actions and financial strategies. On the control side, you pick tools like engineering controls to remove or lessen the hazard, administrative controls to change how work is done, and protective equipment as needed. On the financing side, you decide how to fund remaining risk—whether to retain it, transfer it through insurance or other means, or use other risk-sharing approaches. The goal is to create a coherent plan that achieves safety goals while fitting budget and risk tolerance. After this planning, the next phase is to implement the chosen controls and financing and then monitor their effectiveness.

Choosing the mix of risk control techniques and risk financing methods is where you design how to reduce risk to an acceptable level by coordinating what you do to prevent or lessen harm with how you pay for and share that risk. After hazards are identified and the risk is assessed, this step brings together practical preventive actions and financial strategies. On the control side, you pick tools like engineering controls to remove or lessen the hazard, administrative controls to change how work is done, and protective equipment as needed. On the financing side, you decide how to fund remaining risk—whether to retain it, transfer it through insurance or other means, or use other risk-sharing approaches. The goal is to create a coherent plan that achieves safety goals while fitting budget and risk tolerance. After this planning, the next phase is to implement the chosen controls and financing and then monitor their effectiveness.