ARM 401 Assignment 1
Identifying Risk 2026 Expert
Verifed Ace the Test
Facilitated Workshops - ANSWER ✔✔A neutral party (the facilitator),
who has no stake in the outcome or participation responsibilities,
administers the risk workshop and propels the group to achieve its goal.
Delphi Technique - ANSWER ✔✔Uses the opinions of a select group
of experts to identify risks. Typically, these experts don't meet but
respond to a survey or inquiry instead.
HAZOP - ANSWER ✔✔Primarily used to design complex, scientific
systems such as those used in engineering, chemical, mechanical,
, electronic, and computer operations. But it can be adapted to analyze
certain organizational strategies and initiatives.
SWOT analysis - ANSWER ✔✔Strengths, weaknesses,
opportunities, and threats. This is a team approach that's useful in
analyzing a new project or product. The strengths and weaknesses are
internal environmental factors to be considered. The opportunities and
threats are external environmental factors.
Delmar AeroFab Inc. is designing a part for a commercial aircraft that
cannot have any defects. Which of these team-oriented approaches to
risk identification should it adopt?
A) Facilitated Workshops
B) Delphi Technique
C) HAZOP
D) SWOT - ANSWER ✔✔C) HAZOP
Scenario Analysis - ANSWER ✔✔Identifies risks and predicts the
potential consequences of those specific risks.
Risk Threshold - ANSWER ✔✔The range/amount of risk that is
acceptable to take on.
Identifying Risk 2026 Expert
Verifed Ace the Test
Facilitated Workshops - ANSWER ✔✔A neutral party (the facilitator),
who has no stake in the outcome or participation responsibilities,
administers the risk workshop and propels the group to achieve its goal.
Delphi Technique - ANSWER ✔✔Uses the opinions of a select group
of experts to identify risks. Typically, these experts don't meet but
respond to a survey or inquiry instead.
HAZOP - ANSWER ✔✔Primarily used to design complex, scientific
systems such as those used in engineering, chemical, mechanical,
, electronic, and computer operations. But it can be adapted to analyze
certain organizational strategies and initiatives.
SWOT analysis - ANSWER ✔✔Strengths, weaknesses,
opportunities, and threats. This is a team approach that's useful in
analyzing a new project or product. The strengths and weaknesses are
internal environmental factors to be considered. The opportunities and
threats are external environmental factors.
Delmar AeroFab Inc. is designing a part for a commercial aircraft that
cannot have any defects. Which of these team-oriented approaches to
risk identification should it adopt?
A) Facilitated Workshops
B) Delphi Technique
C) HAZOP
D) SWOT - ANSWER ✔✔C) HAZOP
Scenario Analysis - ANSWER ✔✔Identifies risks and predicts the
potential consequences of those specific risks.
Risk Threshold - ANSWER ✔✔The range/amount of risk that is
acceptable to take on.
