IFE761 Conclude

____ is the uncertainty that impacts the target .

• Safety

• Hazard

• Injury

• Risk

Participating in insurance is BEST considered an example of risk __________ .

• Mitigation

• Transfer

• Acceptance

• Avoidance

The technique of assessing, minimizing, and preventing

accidental loss to a business, as through the use of insurance, safety measures, etc.

• accidental loss insurance

• business management

• risk management

• auto insurance

When you participate in takaful, you are following a risk strategy known as risk sharing

• True

• False

What is Risk Management?

• The deliberate approach or a real-time approach or to control risks.
• The process of identifying, assessing, and controlling risks arising from operational factors and making decisions that balance risk cost with mission benefits. 
• The ability to manage risks and implement controls necessary to accomplish the mission.
• None of the above

Which one is NOT a principle of Risk Management (RM)

• Integrate RM into all phases of missions and operations.

• Make risk decisions at the appropriate level.

• Only use RM while on duty

• Accept no unnecessary risk.

The main outcome of risk identification, in a risk management process is to:-

• Identify and describe all risks that might occur in the project

• Identify and determine the Importance of project risk

• Identify and determine the previous risks in project

• Identify and determine the responses of project risk

What can be the source of risk in an organisation

• Internal sources only

• External sources only

• Depend on business line

• Both internal and external

Process of risk management does not include the following-

• Identify risk

• Measure risk

• Financial support

• Evaluate solution

Risk Management is the responsibility of the

• Customer

• Investors

• Project team

• Productions manager