What are the four key actions used to develop controls and make decisions on risk measures?

The four key actions to develop controls and make decisions on risk measures include risk identification, risk assessment, risk control implementation, and monitoring and review. First, risks are identified to understand potential threats. Next, a thorough assessment evaluates the likelihood and impact of these risks. Following this, appropriate controls are implemented to mitigate risks, and finally, ongoing monitoring and review ensure the effectiveness of these measures and allow for adjustments as necessary.