ARM 401 EXAM PRACTICE QUESTIONS AND
ANSWERS CORRECT ANSWERS AND
SOLUTIONS
◉ 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.
ANSWERS CORRECT ANSWERS AND
SOLUTIONS
◉ 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.
