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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
Which of the following primary skills is most likely to be used by middle management?
analytical, decision making, people
What is the six step process for cat process?
The six step process for cat process include providing a description, explanation, constructing a symbol, model and engaging the students. The evaluation process is also one of the cat process.
What are the army composite risk management test answers?
One cannot say what the Army Composite Risk Management test answers are. Though if a person were to take the course and study for the test they would be able to answer these questions on their own. However, there is no way to tell what the actual test questions will be so therefore one can not simply find the answers without taking the test first, for themselves.
Since capital requirements do not effectively indicate whether banks are taking on too much risk, risk management allows supervisors to focus more on risk-taking procedures and thus may prevent insolvency in the future.
What is risk-benefit analysis?
Risk-benefit analysis is the comparison of the risk of a situation to its related benefits
organizational
What is disadvantage of residual income?
A disadvantage of residual income is that it can be challenging to calculate accurately, as it relies on subjective assumptions about future cash flows and discount rates. Additionally, it may not consider the time value of money effectively, potentially leading to misleading evaluations of investment performance. Furthermore, businesses may focus too heavily on short-term residual income, neglecting long-term growth and sustainability.
Which technique is used for the plan risk management process?
Planning meetings and analysis is a technique used for the plan risk management process.
What is step three of the the five composite risk management?
Develop controls and make risk decisions. Develop control measures that
eliminate the hazard or reduce its risk. As control measures are developed, risks
are re-evaluated until the residual risk is at a level where the benefits outweigh
the cost. The appropriate decision authority then makes the decision.
Risk assessment deals with the chance of the exposure to injury or loss, because of a hazard or dangerous chance, or even loss of life. The assessment in therefore a risk in its own right. There are some steps that must be taken to assess the situation
1. Identify the hazards
2. Decide who might be harmed and how
3. Decide on precaution.
4.Record finding and implement them.
5. Review the assessment and update as and when necessary
What is the correct guiding principle in composite risk management?
Guiding Principles in Composite Risk Management
a) Integrate CRM into all phases of missions and operations. Effective CRM requires that the process be integrated into all phases of mission or operational planning, preparation, execution, and recovery.
b) Make risk decisions at the appropriate level. As a decision making tool, CRM is only effective when the information is passed to the appropriate level of command for decision. Commanders are required to establish and publish approval authority for decision making. This may be a separate policy, specifically addressed in regulatory guidance, or addressed in the commander's training guidance. Approval authority for risk decision making is usually based on guidance from higher HQ.
c) Accept no unnecessary risk. Accept no level of risk unless the potential gain or benefit outweighs the potential loss. CRM is a decision-making tool to assist the commander, leader, or individual in identifying, assessing, and controlling risks in order to make informed decisions that balance risk costs (losses) against mission benefits (potential gains).
d) Apply the process cyclically and continuously. CRM is a continuous process applied across the full spectrum of Army training and operations, individual and collective day-to-day activities and events, and base operations functions. It is a cyclic process that is used to continuously identify and assess hazards, develop and implement controls, and evaluate outcomes.
e) Do not be risk averse. Identify and control the hazards; complete the mission.
What risk analysis tool that allows you to analyze risk?
The Marine Corps uses a tool called ORM- Operational Risk Management. It determines how to best conduct an operation with the least risk to personnel as possible. If the risk outweighs the success in mission accomplishment, the operation's strategy is modified.
entrepreneurial
Which project management tool is better Yodiz or Jira?
I think Yodiz is better because it is a lot easier to use.
1. the first step
2. the second step
3. the third step
4. the fourth step
5. the fifth step.
What is the first step in the collection process?
Ths first step is the prepation for bargaining.
Stieips typically involved in the collective bargaining process include 1. preparation for bargaining 2. face to face negotiations and 3. obtaining aprroveal for proposed contract.
The first step to the collective bargaining process is the prepation of negotiations. This step invloves planning the bargaining strategy and assembling data to support the bargaining proposals.
supervise and evaluate
AGGREGATION OF RISKS
There has been much discussion of the RAROC and VaR methodologies as an approach to
capture total risk management. Yet, frequently, the risk decision is separated from risk
analysis. If aggregate risk is to be controlled, this or a similar methodology needs to be
integrated more broadly and more deeply into the banking firm.
Both aggregate risk methodologies presume that the time dimensions of all risks can be
viewed as equivalent. A trading risk is similar to a credit risk, for example. This appears
problematic when market prices are not readily available for some assets and the time
dimensions of different risks are dissimilar. Yet, thus far no one firm has tried to address this
issue adequately.
Test, analyze, fix and test (TAFT).
What do you mean by risk analysis in food department?
In the food industry, risk analysis is looking at all of the things that could go wrong, quantifying them and thinking of the best course of action for each problem.
Basically, examining all of the worst case scenarios proactively.
