Final answer:
Phase 3 of the Risk-Focused Examination process is the Program Evaluation Phase, which involves evaluating the effectiveness of the risk management program.
Step-by-step explanation:
Phase 3 of the Risk-Focused Examination process refers to the Program Evaluation Phase in the risk-focused examination process. This phase involves evaluating the effectiveness of the risk management program and determining if it is achieving the desired outcomes. This is done by assessing the program's performance and making any necessary adjustments or improvements based on the findings.