Risk Management (Guaranteed Pass!)

Define: Risk management correct answers The process of identifying, assessing, and controlling risks arising from operational factors and making decisions that balance risk costs with mission benefits Define: Risk correct answers Characterized by both the probability and severity of a potential loss that may result from hazards due to the presence of an enemy, adversary, or some other hazardous condition. What are the two types of risk? correct answers Tactical Risk Accident Risk Define: Tactical risk correct answers Risk concerned with hazards that exist because of the presence of either the enemy or an adversary. Applies to all levels of war and across the spectrum of operations. Define: Accident risk correct answers Includes all operational risk considerations other than tactical risk. Includes risk to the friendly force, risk posed to civilians during an op, and an op's impact on the environment. Purpose for risk management for the commander or leader- correct answers Conserve lives and resources Make an informed decision Identify feasible and effective control measures Provide reasonable alternatives for mission accomplishment Principles of Risk Management #1 correct answers Accept no unnecessary risk Principles of Risk Management #2 correct answers Accept risk when benefits outweigh cost Principles of Risk Management #3 correct answers Make risk decisions at the right level Principles of Risk Management #4 correct answers Anticipate and manage risk by planning First step of risk management correct answers Identify hazards Second step of risk management correct answers Assess hazards to determine risk Third step of risk management correct answers Develop controls and make risk decisions Fourth step of risk management correct answers Implement controls Fifth step of risk management correct answers Supervise and evaluate