What is the final step of the Decide Model for effective risk management?

The final step of the Decide Model for effective risk management is to evaluate. This step involves assessing the outcomes of the decisions made and the effectiveness of the strategies implemented to manage risks. Evaluation allows decision-makers to review the results against the anticipated objectives, helping them understand what worked well and what didn't.

This reflective process is crucial as it provides valuable insights that can inform future risk management practices. It also ensures that lessons learned are documented, which can create a foundation for continuous improvement in decision-making and risk management processes. Evaluating the effectiveness of actions taken contributes to building a stronger risk management framework within an organization.