What type of control may offer the most effective results?

A mix of types of control is often the most effective approach in risk management because it allows organizations to address various dimensions of risk comprehensively. Different types of controls—such as preventive, detective, and corrective measures—complement each other and can be tailored to specific types of risks and organizational needs. For instance, preventive controls can aim to avoid incidents before they happen, detective controls can identify and alert stakeholders of issues as they arise, and corrective controls can be implemented to rectify any problems that do occur.

Using a combination ensures that an organization is not overly reliant on any one strategy, which may leave gaps in protection or efficacy. For example, relying solely on insurance does not prevent risks from occurring; it simply provides a financial safety net after a loss. Furthermore, a singular approach may fail to consider the complexity and interrelated nature of risks. By employing a diverse array of control measures, organizations can create a more resilient risk management framework that adequately prepares them to handle uncertainties more effectively.