An Unknown-Unknown risk is assessed in the ISO 31000:2018 Risk Management process because it can be identified. Select one: True False

Understanding the Statement

1. Definition of Unknown-Unknown Risks: Unknown-unknown risks refer to risks that cannot be anticipated or understood, as they are outside the scope of current knowledge and experience. They are inherently unpredictable and often arise unexpectedly.

2. ISO 31000:2018 Context: The ISO 31000:2018 framework provides guidelines for risk management, emphasizing the need to identify, assess, and manage various types of risks. However, the framework acknowledges limitations in the ability to foresee certain risks.

Analysis of the Options

1. True: This option implies that unknown-unknown risks can be identified and assessed, which contradicts their very definition of being unanticipated and outside of current understanding.

2. False: This option aligns with the characteristic of unknown-unknown risks; they cannot be identified through the typical risk assessment processes outlined in ISO 31000:2018.

Conclusion

Based on the definitions and understanding of unknown-unknown risks and their treatment in ISO 31000:2018, the appropriate selection is:

Final Answer

False. Unknown-unknown risks cannot be identified according to the ISO 31000:2018 framework.