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WorksheetsAS Risk Management
Total questions: 15
Worksheet time: 6mins
Person or organization that can affect, be affected by, or perceive itself to be affected by a decision or activity.
sponsor
Stakeholder
Interested party
none of the above
Refers to risks which arises when the implementation of the business does not go according to the business plan
Technological Risk
Operational Risk
Compliance Risk
Strategic Risk
Risks that focuses or arises from the services we deliver for day to day or for less than a year.
Compliance Risk
Operational Risk
Strategic Risk
Technological Risk
Refers to risks related to laws and regulations, company policies within which the organization operates.
Compliance Risk
Technological Risk
Strategic Risk
Operational Risk
Deviation from our expectation: it could be positive or negative
Risk Event
Effect
Cause
Risk
Fact, thing that is true today
Risk
Effect
Cause
Risk Event
Uncertain thing that may or may not happen
Risk
Cause
Risk Event
Effect
Which of the following is not a cause?
We don’t have budget for a new system/tool.
It would help us become productive.
Our laptop battery is defective.
Employees are not aware of the Social Media Policy
Which of the following is a risk event?
We don’t have budget for a new system/tool.
We would fail in achieving our SLA.
We might not deliver our services on time.
There could be an accident (employees could get hurt).
Which of the following is not an effect?
We would fail in achieving our SLA.
It would help us become productive.
We might not deliver our services on time.
We could lose our reputation.
What is Risk Management?
The deliberate approach or a real-time approach or to control risks.
Is the set of coordinated activities to direct and control an organization with regard to risk.
The ability to manage risks and implement controls necessary to accomplish the mission.
None of the above
What is risk identification?
activity undertaken to determine the suitability, adequacy and effectiveness of the subject matter to achieve established objectives.
Process to comprehend the nature of risk and determine the risk level. This also provides the basis for risk evaluation and decisions about risk treatment.
Process of finding, recognizing and describing risks, events, potential effects and its cause(s).
Process to modify risk. This also involves about considering options for treating risks that were not considered acceptable or tolerable
Might cause delay in delivering our services on time
Cause
Risk event
Effect
The analysis of risk before implementation of identified controls.The analysis of risk before implementation of identified controls.
Inherent Risk
Residual Risk
Cause
Risk Rating
The analysis of risk after implementation of identified controls.
Cause
Residual Risk
Inherent Risk
Risk Rating
