Blank Quiz 41

What is a risk?

• A risk is a type of insurance policy.

• A risk is a guaranteed outcome.

• A risk is a measure of success.

• A risk is the potential for loss or harm.

Why is it important to identify risks?

• To create unnecessary paperwork and bureaucracy.

• To ignore potential problems and focus on current tasks.

• It is important to identify risks to proactively manage and mitigate potential issues.

• To increase the likelihood of success without planning.

Can you name a type of risk?

• financial risk

• liquidity risk

• operational risk

• market risk

How can we find risks in a project?

• Only focus on financial risks without considering others

• Assume there are no risks involved

• Ignore all risks and proceed with the project

• Identify potential risks through brainstorming, analyze their likelihood and impact, and prioritize them.

What is one way to avoid risks?

• Take unnecessary risks

• Follow gut feelings without evidence

• Conduct thorough research and analysis.

• Ignore potential problems

What does it mean to assess a risk?

• To evaluate the potential impact and likelihood of a risk.

• To ignore the potential impact of a risk.

• To celebrate the occurrence of a risk.

• To increase the likelihood of a risk happening.

Why should we keep track of identified risks?

• To increase the number of risks identified.

• To avoid any form of documentation.

• To monitor potential threats and implement mitigation strategies effectively.

• To ensure all team members are confused about the risks.

What is a risk factor?

• A risk factor is a treatment for health issues.

• A risk factor is a guaranteed cause of illness.

• A risk factor is a type of medication.

• A risk factor is something that increases the chance of a negative health outcome.

How can teamwork help in identifying risks?

• Teamwork only helps in implementing solutions, not in identifying risks.

• Teamwork complicates the risk identification process by creating confusion.

• Teamwork helps in identifying risks by leveraging diverse perspectives and collective problem-solving.

• Teamwork is irrelevant to risk identification as it relies solely on individual analysis.

What should you do if you find a new risk?

• Ignore the new risk and continue as usual.

• Notify your supervisor without any further action.

• Assume the risk is negligible and take no steps.

• Document and assess the new risk.