How does the Navy define "risk management"?

The Navy defines "risk management" as the process of identifying, assessing, and controlling risks to ensure operational success. This definition encompasses multiple critical components of risk management.

Identifying risks involves recognizing potential hazards or threats that could impact personnel, equipment, or mission outcomes. Assessing these risks is essential to understand their severity and likelihood of occurrence, allowing leaders to prioritize issues effectively. Finally, controlling risks means implementing strategies and measures to mitigate or eliminate potential negative effects. This holistic approach reflects the Navy's commitment to maintaining safety and operational efficiency, integrating risk management into every aspect of military operations.

The other options do not capture the comprehensive nature of risk management as defined by the Navy. Reducing personnel costs and outsourcing safety roles do not address the essential components of risk assessment and control. Similarly, strictly implementing policies does not inherently involve the identification and evaluation of risks, which are crucial to ensuring overall operational success.