Developing options to mitigate risks is one of how many advisory steps in a qualitative approach?

The process of developing options to mitigate risks is part of a comprehensive framework used in qualitative risk assessment, which typically comprises seven advisory steps. Each of these steps plays a crucial role in identifying, analyzing, evaluating, and addressing risks within an organization. The seven steps generally include identifying assets and threats, assessing vulnerabilities, determining the impact of risks, evaluating risk tolerance, developing mitigation strategies, implementing those strategies, and continuously monitoring and reviewing the risk environment.

By understanding that there are seven steps in this advisory process, one can appreciate the structured approach necessary for effective risk management and the importance of each step, including the development of mitigation strategies, in effectively addressing and reducing potential risks. This structured methodology ensures that organizations can proactively manage risks rather than reactively respond to them.