As per AS ISO 31000 (2018), the risk management process is a one-time process carried out at the beginning of an operation.

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Question statement: 'As per AS ISO 31000 (2018), the risk management process is a one-time process carried out at the beginning of an operation.'
Option 1: True. This claim is incorrect because ISO 31000 (2018) defines risk management as a framework and process that is ongoing, iterative, and integrated into organizational activities, decisions, and lifecycle stages. It is not confined to a single start‑of‑operation event; instead, risk management should be continually applied as conditions change and new information emerges.
Option 2: False. The assertion that risk management is a one-time activity at the beginning of an operation contradicts the standard’s emphasis on continual improvement, monitoring, and adaptation. ISO 31000 envisions a dynamic process where risk identification, assessment, treatment, monitoring, and review are recurring steps that align with strategy, governance, and performance across time, not just at project initiation.
Option 1 (True) misrepresents the nature of the process by implying permanency from a single point in time, ignoring the ongoing nature of risk in real-world contexts.
Option 2 (False) accurately captures the core idea that risk management is not a one-off task but a sustained practice that evolves with changing risks, contexts, and objectives.

CVEN30008_2025_SM1 Module 3.1 Quiz

As per AS ISO 31000 (2018), the risk management process is a one-time process carried out at the beginning of an operation.

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