What actions are included in the management phase of risk management?

The management phase of risk management encompasses actions that are crucial for handling identified risks effectively. In this context, the correct response includes the key components of developing a risk management plan, implementing that plan through strategic actions, and supervising the ongoing processes to ensure that risk responses are effective and that any new risks are identified promptly.

Developing entails creating strategies and controls to address identified risks, which ensures there is a structured approach to risk management. Implementation refers to executing those strategies in practice, effectively embedding risk management into the organizational processes. Finally, supervision is essential as it involves monitoring the effectiveness of the risk management measures and making necessary adjustments, thereby creating a dynamic process that can adapt to new information or changing circumstances.

These actions collectively ensure that the organization not only prepares for risks but actively manages them through continuous oversight and response, which is critical in maintaining organizational resilience and achieving objectives.