Explanation
Risk management takes human and cultural factors into account . Human factors include perception, judgment, behavior, and communication that influence risk management. Cultural factors include values, beliefs, norms, and expectations that shape the organization's risk culture.

Explanation
Risk treatment is the risk process step to manage, control, or remediate risk1. Risk treatment involves selecting and implementing options to modify or control risks.

Explanation
ISO 31000:2018 risk management process is descriptive . This means that it provides guidance on what should be done for effective risk management, but not how it should be done. The process can be customized to any organization and its context.

Explanation
Level of risk is described in terms of consequence and likelihood. Consequence means the outcome or impact of a risk event on objectives. Likelihood means how probable it is that a risk event will occur.

Explanation
According to , page 7-8, one of the roles of risk management in the strategic planning process is to identify threats and opportunities that could affect the organization's objectives and performance.