ARM 401 Complete Questions And Answers(Latest Update 2023)
HAZOP Process Steps - ANSWER 1. Divide project/system into small components 2. Review components to identify risk 3. Identify cause and potential outcomes of risks 4. Develop solutions to risks 5. Ensure solutions work and reevaluate SWOT analysis (strengths, weaknesses, opportunities, threats) - ANSWER A SWOT analysis is useful when there is a specific goal, such as determining whether engaging in a new product or project is feasible. It's less useful for analyzing current processes and procedures to identify risks unless there is a specific objective, such as whether a procedure conforms to new regulations or customer specifications. A goal is necessary to keep the SWOT analysis from becoming too general or failing to provide actionable information. Generally "go" or "no go" Risk Threshold - ANSWER The range or amount of risk that is acceptable Radio Frequency Identification (RFID) - ANSWER A technology that uses radio
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