0
Risk Management
Risk Management involves the identification and analysis of loss exposures to persons and entities. It also addresses the kinds of actions that may be taken to minimize the financial impact of those risks, such as risk avoidance, risk reduction and risk transfer. This topic should address types of risk (for example, "pure" risk vs. "financial" risk) and should differentiate between personal risk management techniques and commercial risk management techniques. In the latter respects, the topic can dovetail into many issues addressed in the Insurance topic.
2,845 Questions
What is the last step in composite risk management process?
What are the correct guiding principles of composite risk management
What is a correct guiding principle of composite risk management process?
A correct guiding principle of the composite risk management process is to identify, assess, and prioritize risks to minimize their impact on objectives. This involves actively engaging stakeholders, utilizing data-driven analysis, and implementing appropriate risk mitigation strategies. Continuous monitoring and reassessment of risks ensure that the process remains dynamic and responsive to changing conditions. Ultimately, effective communication and collaboration are essential for fostering a risk-aware culture.
What are the risk management principle?
Accept no unnecessary risk
Make risk decisions at the appropriate level
Accept the risk when the benefits outweigh the costs
Integrate ORM into Air Force doctrine and planning at all levels
Which one of the following is not one of 4 risk management principles?
Risk management must be integrated into operational missions Risk decisions must be made at the lowest level of responsibility Risk is an unavoidable and acceptable result of Army operations Risk management must be applied cyclically and continuously
What is the purpose of the RM step develop control and make risk decisions?
To determine whether the risk of an adverse event occurring is reduced enough that the benefits of completing the mission outweigh the risks
Is risk management course also registered?
Is risk management courses registered with oxbridge accademy
What form is a DA Civilians primary reference for risk management?
A DA Civilians' primary reference for risk management is the Army Regulation (AR) 385-10, titled "The Army Safety Program." This regulation outlines the policies and procedures for managing risk to ensure safety in Army operations and activities. It emphasizes the importance of identifying, assessing, and mitigating risks to protect personnel, equipment, and resources.
What re the characteristics of risk management?
Risk management is used to;
- Identify ANY potential risk to a business in any department of that business
- Drill down in each departments risk to function/security/safety or financials and prepare a level rating of low, medium, high or critical list which can then again be identified and action planned to remove, counter or manage that risk
- Review risk management plans and continue to identify risks to the business and test the counter risk stratagy inplace for its effectieness
- Once Identified a Risk has a set of contingencies attached especially where risk cannot be erradicated only managed.
- Communication of the risk factor top down in the bussiness and specific training in dealing with the risk arranged and put in place as part of the counter risk stratagy
What is step five in the RM process?
Identify Hazards, Assess hazards, develop controls and make risk decisions, implement controls, supervise and evaluate to reduce hazards.
Sorry, but I don't understand the question. Maybe a re-write, using punctuation will make the question more understandable.
What is the first step in the information literacy process?
The first step in the information literacy process is to define the information need or problem. This involves identifying what information is required, why it is needed, and how it will be used to address the issue at hand. Clarifying the scope and purpose of the information seeking process is crucial before proceeding further.
Explain what happen during the process to determine the projrct budgt?
Identify 6 hazards (in total)that could jeopradise children's safty .provide 1 strategy for each of in 6identified hazards to minimise or prevent them from occurring .
What are the factors in determining an acceptable toxicology risk?
Acceptable toxicology risk is determined by various factors, including the level of exposure to the toxic substance, the toxicity of the substance, the sensitivity of the population being exposed, the availability of alternative products, and the benefits of using the product. Regulatory agencies use these factors to establish safe exposure limits for toxic substances.
What are the three steps in the process?
First, you have to die. Once you have been dead at least 5 years a cause
for sainthood can be opened. The local bishop or other religious leader
will assign someone to collect all sorts of documents and conduct
interviews about the life of the candidate. Once they have all the
information, the file will be sent to the Sacred Congregation for the
causes of Saints in Rome. They will study the file and, if it seems the
person exhibited some form of heroic virtue, that person will be declared
a Servant of God and an official Cause for Sainthood will be opened.
More investigations and interviews will be conducted and if the person
passes all favorably, they will be named as Venerable.
Next, more investigations and at least one miracle must be confirmed and
verified due to the intercession of the candidate. If all goes well, the
candidate will then be Beatified by the Pope and receive the title of
Blessed. Mother Teresa of Calcutta is at this stage right now.
In the final stage, more investigations and at least one more miracle must
be verified. Once all that has been done, the file is turned over to the
pope who will make the final decision. It will be up to the pope to
declare a person a saint and then arrangements are made for the official
canonization ceremonies.
This process can take many years, even centuries.
Of course, the person became a saint the moment they entered heaven. The
Church just needs to investigate to make sure the candidate is worthy of
emulation and makes a good role model for future generations.
What are the steps in the Risk Assessment process?
The steps in the risk assessment process are:
- Identify the hazards.
- Decide who might be affected.
- Evaluate the risk & decide control measures.
- Record your findings and implement them.
- Review and update if required.
You should consider anything that might cause harm to somebody and carefully list all of the people that might find themselves in that situation. Its safer to over estimate than under estimate.
Then decide which safety measures you will put in place and make sure that they are followed.
Then, using the scale on the form you are completing (which tends to be out of 5 or out of 10), decide how likely the event is to occur (with the safety measures in place) and times it by how severe the consequences might be. This will give you the risk level.
The risk level should always be as low as possible. The scale on your risk assessment form will usually indicate what number is acceptable and when you should cease the activity. Some things, such as fire, will always have a high consequence number which you cannot control, so you should always make sure to lower the likelihood.
What are controls designed to do Risk management?
The composite risk management the controls are designed to make military related decisions. The effective control measures where the specific standards do not exist.
