RIMS CRMP-IMPLEMENTING THE RISK PROCESS
EXAM GRADED A+ LATEST UPDATE.
Risks ANS >> The effect of uncertainty on objectives
The chance of something happening that will have an impact on objectives
Being prepared for the worst and being poised to exploit opportunities as they are discovered
Risk management strategies' general focus ANS >> Meeting or exceeding an organization's
objectives
Adhering to control-based objectives, rules and/or controls
Complying with regulatory requirements
Communication and Consultation ANS >> Risk management professional's role in Implementing
Risk Strategies
Risk Identification Process ANS >> Finding, Recognizing and Recording Risks
Risk Analysis ANS >> The process of characterizing and understanding the nature of risk and of
considering the level of risk in the context of the organization's willingness to accept risk.
, Likelihood, Consequences, other criteria such as timing, duration, vulnerability and
interdependencies ANS >> Risk is typically analysed on the basis of
Bow tie analysis ANS >> hazard analysis technique (cause and consequence)
Business impact analysis ANS >> consider business impacts at a location or from a specific
process
Gap analysis ANS >> determine steps to improve the organization's capacity to move from a
current state to a desired, future state. (current available factors, success factors needed to
achieve future desired objectives, highlighting the gaps)
Root Cause Analysis ANS >> multiple techniques designed to identify the underlying or initiating
risk sources or drivers. (fault tree analysis, event tree analysis, failure mode and effect analysis
and cause-and-effect analysis - fish bone diagram)
Influence analysis/diagrams ANS >> identify the strength of influencing factors and help
determine potential weighting for consideration during the risk assessment process. Define root
causes for major risks, define the chain of events likely in a scenario and become the foundation
for further modelling.
Risk Register Analysis ANS >> compile risk into a risk register to analyse and manage those risks
in an organized way, typically by category.
Scenario analysis ANS >> process of analysing possible and plausible future events by
considering alternative settings, circumstances and outcomes. It provides a basis for making
decisions in the context of different conditions.
Site analysis ANS >> leaders at each site perform an assessment by analysing and evaluating the
potential risks based on what is being produced at the site and its environmental factors. This
may include threat, vulnerability and criticality analyses.
EXAM GRADED A+ LATEST UPDATE.
Risks ANS >> The effect of uncertainty on objectives
The chance of something happening that will have an impact on objectives
Being prepared for the worst and being poised to exploit opportunities as they are discovered
Risk management strategies' general focus ANS >> Meeting or exceeding an organization's
objectives
Adhering to control-based objectives, rules and/or controls
Complying with regulatory requirements
Communication and Consultation ANS >> Risk management professional's role in Implementing
Risk Strategies
Risk Identification Process ANS >> Finding, Recognizing and Recording Risks
Risk Analysis ANS >> The process of characterizing and understanding the nature of risk and of
considering the level of risk in the context of the organization's willingness to accept risk.
, Likelihood, Consequences, other criteria such as timing, duration, vulnerability and
interdependencies ANS >> Risk is typically analysed on the basis of
Bow tie analysis ANS >> hazard analysis technique (cause and consequence)
Business impact analysis ANS >> consider business impacts at a location or from a specific
process
Gap analysis ANS >> determine steps to improve the organization's capacity to move from a
current state to a desired, future state. (current available factors, success factors needed to
achieve future desired objectives, highlighting the gaps)
Root Cause Analysis ANS >> multiple techniques designed to identify the underlying or initiating
risk sources or drivers. (fault tree analysis, event tree analysis, failure mode and effect analysis
and cause-and-effect analysis - fish bone diagram)
Influence analysis/diagrams ANS >> identify the strength of influencing factors and help
determine potential weighting for consideration during the risk assessment process. Define root
causes for major risks, define the chain of events likely in a scenario and become the foundation
for further modelling.
Risk Register Analysis ANS >> compile risk into a risk register to analyse and manage those risks
in an organized way, typically by category.
Scenario analysis ANS >> process of analysing possible and plausible future events by
considering alternative settings, circumstances and outcomes. It provides a basis for making
decisions in the context of different conditions.
Site analysis ANS >> leaders at each site perform an assessment by analysing and evaluating the
potential risks based on what is being produced at the site and its environmental factors. This
may include threat, vulnerability and criticality analyses.
