Risk Management (Lesson 3)

What is the nature of risk management in terms of its approach?

• Only proactive

• Only reactive

• Both proactive and reactive

• Neither proactive nor reactive

What is the purpose of re-assessment in risk management?

• To ignore changes

• To ensure risks are managed effectively over time

• To increase risks

• To stop all activities

What is the main goal of risk minimisation within risk management?

• To eliminate all risks

• To lower risk levels

• To increase risk levels

• To ignore risks

What is Absolute Risk?

• The risk that actually exists for a particular situation

• The subjective assessment of risk by a person

• The uppermost limit of risk assuming no safety measures

• The risk after safety measures are applied

Which type of risk involves a worst-case scenario?

• Perceived Risk

• Actual/Real Risk

• Absolute Risk

• Imaginary Risk

What is the key factor in Actual/Real Risk?

• Lack of safety measures

• Personal judgment

• Existing safety measures

• Imaginary scenarios

What does Perceived Risk rely on?

• Statistical analysis

• Personal assessment

• Safety protocols

• Historical data

Which risk type is evaluated after implementing controls?

• Absolute Risk

• Perceived Risk

• Actual/Real Risk

• Theoretical Risk

What can poorly maintained equipment lead to?

• Enhanced durability

• Equipment hazards

• Better performance

• Increased safety

What is a potential hazard in poorly maintained areas?

• Extreme heat

• Noise

• Poorly maintained areas

• Wind