Risk Management-Assessment Complete Questions & Answers(Rated A)

What is a good example of an upside risk? - ANSWER A team finishes its project two weeks ahead of the schedule. What is the best method to use when training employees on an emergency response plan? - ANSWER Conduct drills and role plays. What is the primary purpose of a safety self-audit? - ANSWER To ensure employee compliance with the organization's safety programs Because of an increase in terrorism, a global organization establishes evacuation procedures and communication plans for company sites. The organization also creates a website that sits outside the company's firewall for easy access if the organization's network goes down. What activity has the organization completed? - ANSWER Emergency response planning What is the best way to evaluate an emergency response plan? - ANSWER Conduct a crisis drill. What is the best definition of risk? - ANSWER Effect of uncertainty on the ability to meet objectives In terms of risk management, what is a control? - ANSWER Measure taken to reduce the probability or severity of a threat What key characteristic of an effective risk management program is identified in ISO 31000? - ANSWER Fits the organization's risk and control environment What factors are used to determine an organization's risk level? - ANSWER Probability of occurrence of a threat and the threat's impact Which HR professional is fulfilling the correct role of HR in managing organizational risk? - ANSWER HR conducts a workshop with other functions to identify potential upside and downside risks to the next workforce management plan. What is meant by the term "residual risk"? - ANSWER Amount of uncertainty remaining after all management efforts have been made