When the Titanic struck the iceberg, the weather was bad, the lookouts were not properly equipped, the radio operator was not monitoring other ship traffic or communication in the area, they were traveling at a very high speed, and the ship design had a flaw in the construction of the hull’s “watertight” compartments (and other risks). In many risk programs, risks are managed individually. However, a robust risk program considers the cumulative effect of all risks. Assess the above scenario and identify the effect of multiple events on a risk management strategy.
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