How are risks evaluated under GEMD?

The systematic risk assessment process is essential in identifying and evaluating risks within GEMD. This method involves a structured approach that includes identifying potential hazards, assessing the likelihood and consequences of those hazards, and determining the necessary controls to mitigate the risks. It often encompasses a thorough analysis of processes, systems, and organizational practices, ensuring that all relevant factors are considered.

Using a systematic approach allows for consistent criteria to be applied across different areas, facilitating better decision-making and prioritization of resources. The depth of analysis provided by this method helps in understanding both the qualitative and quantitative aspects of risks, making it a comprehensive tool for risk management.

This contrasts with the other options, which may not provide the same level of thoroughness or consistency in risk evaluation. Employee surveys, while valuable for gathering perceptions, may not capture the full range of risks present. Random sampling of processes could miss critical areas of concern, and relying solely on external audits may overlook internal dynamics that should be accounted for. Thus, the systematic risk assessment process is the most effective means of evaluating risks under GEMD.