Which of the following is NOT a main component of a risk management plan?

A risk management plan is primarily focused on identifying, analyzing, and evaluating risks that can affect the objectives of an organization. The main components usually include risk identification, where potential risks are recognized; risk analysis, which involves assessing the likelihood and potential impact of those risks; and risk evaluation, where the identified risks are prioritized based on their severity and likelihood of occurrence.

Market research, while it plays an essential role in understanding industry dynamics and customer behavior, is not considered a core component of a risk management plan. It does not directly pertain to the process of identifying, analyzing, or evaluating risks but rather focuses on gathering information about the market that can inform business decisions. Therefore, it does not align with the foundational aspects of a structured risk management approach.