Which activity is included in the risk management process?

The activity included in the risk management process is the creation of a risk management plan. A risk management plan is a crucial document that outlines how an organization will identify, assess, manage, and mitigate risks. This plan is fundamental for establishing procedures that protect the organization's assets, reputation, and stakeholders from potential threats or losses. It involves setting clear guidelines for risk assessment, determining risk tolerance, and outlining strategies for risk avoidance, reduction, and transfer.

In contrast, hiring new employees focuses on workforce management without directly addressing risk. Establishing brand loyalty pertains more to marketing and customer relations than to risk management. Reducing customer service hours might be a strategic business decision, but it does not inherently involve a structured process to identify or manage risk factors. Thus, creating a risk management plan is the definitive activity that aligns with the principles and practices of risk management.