specialist may find that there has been trend toward a desire to retain insurable risk

(a)  

specialist must not squeeze entrepreneurial spirit and effort out of the organization

(a)  

must recognize that risk management tools and equipment can contribute to better strategic decision

(a)  

rm activities must be proportionate to the level of risk faced by the organization

(a)  

erm activities need to be aligned with other activities in the organization

(a)  

in order to be fully effective, risk management approach must be comprehensive

(a)  

rm activities need to be embedded within the organization

(a)  

rm activities must be dynamic and responsive to emerging risk

(a)  

indicated how often a risk is expected to materialize

(a)  

can be determine on an inherent basis for any particular risk

(a)  

often referred to as the inherent severity of the risk it should materialize

(a)  

about reducing the likelihood of an adverse event occurring

(a)  

concerned with reducing magnitude of the event when it does materialize

(a)  

concerned with reducing the impact and consequences of the event

(a)  

will be concerned with ensuring the lowest cost of repairs as well as business continuity plans

(a)  

represent the risk exposure of the organization

(a)  

exposure maybe tolerable without any further action being taken

(a)  

the amount of risk the organization is willing to accept in pursuit of its objectives

(a)  

the maximum amount of risk an organization is willing to tolerate

(a)  

whilst continuing within the organization with the activity giving rise to the risk

(a)  

planned acceptance of losses by deductibles, deliberate non insurance, and loss sensitive were some

(a)  

is a common risk management technique were the potential loss from adverse outcome face by individual or entity is shifted to a third party

(a)  

is the simplest and most often ignored method of dealing with risk

(a)  

an entire system of producing and delivering a product or service

(a)  

is a strategic business discipline that support the achievement of an organization of objectives

(a)  

means that the organization looks at all the risk that it faces across all the operations

(a)  

about processes that are enacted before a disaster occurs

(a)  

about processes that are designed to be enacted after a disaster has occurred

(a)  

refers to the organization itself

(a)  

common factors to consider when understanding the context of the organization

(a)  

defines the goals and objectives of risk management activity including how it is to be undertaken

(a)  

define as the document used for recording risk management process for identified risk

(a)  

is a tool that helps you visualize the probability vs the severity of the potential risk

(a)  

an action is taken to manage a risk

(a)  

you can choose not to take on risk by avoiding the action that cause the risk

(a)  

you can take mitigation action or lessen the risk

(a)  

you can transfer all or part of the risk to a third party

(a)  

also known as risk retention, is choosing to face the risk

(a)  

risk that insurance company will cover

(a)  

it measures how much you can withstand negative performance in your investment

(a)  

refer to facility, structure, component or accident sequences

(a)  

given the existing set of controls rather than the hypothetical notion of an absence of any controls

(a)  

often seen as most relevant to the analysis of external risks

(a)  

is to determine the level of risk within the organization, project

(a)  

P in pestle

(a)  

E in pestle

(a)  

S in pestle

(a)  

T in pestle

(a)  

L in pestle

(a)  

E in pestle last " E"

(a)  

F in firm scorecard

(a)  

I in firm scorecard

(a)  

R in firm scorecard

(a)  

M in firm scorecard

(a)  

·        based on the idea that the risk culture of the organization is the most important consideration

(a)  

has the ability to impact the organization some time after the event occurs

(a)  

has the ability to impact the organization following a short delay after the event occurs

(a)  

has the ability to impact the objectives, key dependencies and core processes

(a)  

refers to peoples judgement and evaluation of hazard

(a)  

This standard provides detailed information on the full range of risk assessments techniques that can be used

(a)  

the most significant strategic risk for the organization

(a)  

significant buy in at all levels of organization should be achive

(a)  

INFORM,REFORM,CONFORM,PERFORM

(a)  

inform

(a)  

reform

(a)  

conform

(a)  

perform

(a)  

encompasses the tone of an organization

(a)  

must exist before management can identify potential events affecting their achievements

(a)  

internal and external events affecting of achievement of objectives must be identified

(a)  

risk are analyzed, considering the likelihood of the impact

(a)  

management select risk responses

(a)  

policies and procedures are established and implanted to help

(a)  

relevant information is identified, captured and communicated

(a)  

monitored and modifications made as necessary

(a)