Which of the following is NOT a risk management process?

Incident Reporting is not considered a formal risk management process, while the other options are integral components of a risk management framework.

Risk Analysis involves identifying potential risks that could affect an organization’s operations or objectives. This process helps in understanding the nature and origin of risks and assessing their potential impact, which is critical for developing strategies to mitigate them.

Risk Assessment follows this by evaluating the identified risks to determine their likelihood and potential severity. This helps prioritize risk management efforts based on the level of threat each risk poses to the organization.

Compliance Monitoring, while primarily focused on adherence to laws and regulations, also plays a role in risk management by ensuring that the organization is following established guidelines that help mitigate risks associated with non-compliance.

In contrast, Incident Reporting is more of a reactive process that involves documenting and communicating specific incidents as they occur rather than being part of a proactive risk management strategy. It serves as a mechanism to gather information about events that have already happened rather than a structured method for identifying and managing risk.