Final answer:
Risk management methodology includes both the processes and the tools used in managing risks, so the statement is false.
Step-by-step explanation:
The statement that methodology involves how risk management will be performed excluding the tools involved is false. In reality, risk management methodology encompasses not just the approach and techniques but also the tools used for identifying, analyzing, and responding to risks. This methodology typically outlines the processes to be followed throughout the risk management lifecycle. It includes various elements such as risk identification, risk analysis, risk evaluation, risk treatment, risk monitoring, and reporting. Both qualitative and quantitative tools are fundamental to the process as they enable effective risk assessments and aid in decision-making.