Risk Management (Solved)

What are three basic categories of controls in risk management? correct answers Educational (awareness) controls, physical controls, hazard elimination controls. What is residual risk? correct answers Residual Risk is the risk remaining after controls have been selected for the specific hazard. Residual risk is valid only if identified controls are implemented. What are the four levels of severity? correct answers Catastrophic, Critical, Marginal, and Negligible. What is METT-TC? correct answers Mission, Enemy, Terrain & Weather, Troops, Time and Civil Considerations. What is risk tolerance? correct answers The level of risk the responsible commander is willing to accept. How many steps are in the Risk Management process? correct answers Five. What is the purpose of Risk Management? correct answers To help organizations and individuals to make informed decisions to reduce or offset risk. Define Risk Management? correct answers The process of identifying, assessing, and controlling risks arising from operational factors and making decisions that balance risk cost with mission benefits. What is the primary premise of Risk Management? correct answers That using this process increases operational effectiveness and the probability of mission accomplishment. What does deliberate Risk Management refer to? correct answers Situations in which ample time is available to apply the five-step process as part of detailed planning for an operation. What does Real-time Risk Management refer to ? correct answers The immediate management of hazards as they occur; usually during execution of an operation or performance of a task. True or False. Real-time RM and deliberate RM have the same foundations: the principles of RM and the steps of the risk management process. correct answers True. What are the principles of Risk Management? correct answers o Integrate RM into all phases of missions and operations. o Make risk decisions at the appropriate level. o Accept no unnecessary risk. o Apply RM cyclically and continuously.