HNC ED Week 10 - Risk Management Quiz

What does ISO 31000 standardize?

• Environmental impact assessments

• Risk management practices

• Product lifecycle analysis

• Material selection processes

• Don’t know

Which risk management tool prioritizes risks based on probability and impact?

• Failure Mode and Effects Analysis (FMEA)

• Risk Matrix

• SWOT Analysis

• Fishbone Diagram

• Don’t know

What does FMEA primarily focus on?

• Estimating lifecycle costs

• Identifying potential failure modes and their effects

• Comparing environmental impacts of materials

• Calculating project timelines

• Don’t know

Which of the following is an example of a compliance standard?

What is the primary goal of risk management in engineering design?

• To reduce material costs

• To ensure safety and compliance

• To increase production speed

• To simplify assembly processes

• Don’t know

In a risk matrix, what does the "impact" axis represent?

• The likelihood of a risk occurring

• The severity of a risk's consequences

• The cost of mitigating a risk

• The time required for repairs

• Don’t know

What is the purpose of a hazard and operability study (HAZOP)?

• To optimize product assembly

• To identify and analyze potential hazards in a process

• To prioritize maintenance tasks

• To calculate resource availability

• Don’t know

What is a common factor contributing to non-compliance in engineering designs?

• Excessive use of simulations

• Lack of adherence to regulatory standards

• Frequent design changes

• Overly simplistic risk assessments

• Don’t know

What industry would most likely use FAA compliance standards?

• Automotive

• Aerospace

• Construction

• Electronics

• Don’t know

Which part of the design process ensures compliance with safety standards?

• Conceptual Design

• Risk Management

• Final Testing

• Material Selection

• Don’t know