What are the four risk management options available to deal with risks?

The four risk management options that focus on how to handle risks effectively include options like avoiding, controlling, retaining, and transferring risks.

Choosing to avoid a risk means taking steps to eliminate the risk entirely, often by changing plans or processes that create it. Controlling a risk involves implementing measures to reduce the likelihood or impact of the risk. Retaining a risk is when an organization decides to accept the risk, typically because the potential benefits outweigh the risks or costs involved. Transferring a risk often involves shifting the responsibility to a third party, such as through insurance or outsourcing certain tasks.

This framework provides a comprehensive approach to risk management, allowing organizations to strategically decide which risks to mitigate, accept, or transfer based on their overall risk tolerance and business objectives. The other options listed focus on different aspects of risk management or do not accurately capture the direct options available for dealing with risks in a practical context.