Rims Crmp Exam Study Guide Common Terms Questions With Complete Solutions
Benchmarking correct answers The process of measuring the performance of an organization against external standards of reference that frequently come from similar organizations doing similar things. Corporate governance correct answers The system of rules, practices and processes by which a company is directed and controlled Enterprise risk management correct answers A strategic discipline that supports the achievement of an organization's objectives by addressing the full spectrum of its risk and managing the combined impact of those risks as an interrelated risk portfolio. Strategy: Consider all risks and exploit risks as part of strategy Measurement: Include Upside of Risk (Bugalla and Kugler) Look at building, expanding, exploiting to add value Push and Pull risk performance data This approach is Coordinated & Strategic Gap analysis correct answers Comparison of an existing process or procedure to recognized standards in order to identify deficiencies or excesses in the existing process. Technique that can be used to determine what steps might need to be taken to improve the organization's capacity to move from a current state to a desired future state. Key performance indicator (KPI) correct answers An activity that signals the achievement of organizational objectives
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