What is an example of composite risk management?


Quick Answer

A good example of composite risk management is when an army is preparing to go to war. It is exposed to the risk of damage to equipment, injury and fatalities. Before an army embarks on a mission, it ensures that all of the above risks are identified and mitigated.

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Full Answer

Composite risk management entails an in-depth analysis of all possible risks along with appropriate mechanisms to mitigate the situation. For example, the army enacts scenarios where they have lost important communication equipment. They have to come up with a secondary means of communication, including decoding enemy radio calls and using them as their own. Composite risk management provides a comprehensive risk management in the army, increasing probability of success in various missions.

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