What is a core component of risk management planning?

• A. Annual budget only
• B. Identifying hazards, assessing risk, and implementing controls
• C. Social media strategy
• D. Client entertainment plan

Answer: (B)

Risk management planning focuses on identifying hazards, assessing risk, and implementing controls to reduce harm and protect clients and staff. This sequence—spotting potential hazards, evaluating how likely and how serious the risk is, and putting measures in place to mitigate it—is what keeps operations safe and compliant in a licensed child-placing agency. In practice, that means conducting safety assessments, establishing staff training and supervision protocols, implementing safety procedures, and maintaining clear incident reporting and follow-up processes. The other choices don’t center on reducing risk: budgets address finances, a social media strategy handles communication, and an entertainment plan isn’t about safeguarding participants. So, identifying hazards, assessing risk, and implementing controls is the best fit for risk management planning.