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WorksheetsRisk Management
Total questions: 10
Worksheet time: 5mins
What is the correct order of the stages in The Project Risk Management Process Cycle ?
Establish, Monitor & Review, Evaluate, Treat, Analyze
Establish, Identify, Analyze, Evaluate, Treat, Monitor & Review
Identify, Analyze, Evaluate, Establish, Monitor, Treat
Monitor & Review, Establish, Identify, Analyze, Evaluate, Treat,
A risk matrix is
A 2D grid that helps us to visualise the severity of any risk
A List of risks and their strategies
A rating of each risk
None
What is a risk?
Risk is losing something of value.
Risk is gaining something of value.
Risk is the potential to lose or gain something of value.
Risk management is
an incident where information is stolen or taken from a system without knowledge
the process of minimizing or reducing harm from risk.
the simulation of human intelligence in machines that are programmed to think like humans
a process that deals with investments
Examples of cyber risk include
cybercrime
data breaches/leaks
power outages
All of the above
The risk of obsolescence is
a company losing data through data breaches/leaks.
damage to reputation through social media
the danger of a process/product/technology becoming out-of-date within a short space of time.
None
On the digital matrix, likelihood is
how bad/severe the risk is.
how possible it is for the risk to happen.
the effect/consequence of the risk.
when the risk will happen.
Saudi Aramco’s ERM framework stands for
European Exchange-Rate Mechanism
Enterprise Resource Manager
Employee Relationship Management
Enterprise Risk Management
What is the purpose of a risk assessment?
To generate more paperwork
Create work for the designated safety officers
Proportion blame in the event of an accident occurring
To evaluate hazards and to minimise the levels of its risk
Risk can be calculated as:
Likelihood x Consequence
Severity x Consequence
Consequence + Likelihood
Uncertainty / Impact
