Risk Management exam Questions and Correct Solutions 2024 Updated

Risk Management exam Questions and Correct Solutions 2024 Updated Risk management principles - Answer -Accept the risk when benefits outweigh the cost. Accept no unnecessary risk. Anticipate and manage Risk by planning. Make risk decisions at the right level. Accept risk when benefits outweigh the cost - Answer -Marine Corps tradition emphasizes seizing initiative and taking decisive action. The goal of risk management is not to eliminate risk, but management the risk, so missions are accomplished with the minimum amount of loss to maximize success Accept no unnecessary risk - Answer -An unnecessary risk is one of that, if taken, will not contribute to the task or Mission accomplishment or will needlessly jeopardize Personnel or material. Manage risk through Relentless training, awareness of the rest being confronted, and an understanding of the mission at hand. Bottom line- take only those risk needed to accomplish the task, activity, or Mission. Anticipate and manage Risk by planning - Answer -Integrating risk management into planning at all levels, and as early as possible, provides the greatest opportunity to make well-informed decisions and Implement effective risk controls. Make risk decisions at the right level - Answer -Risk decisions will be made at the appropriate level, by the individual with the authority, knowledge, and experience necessary to recognize when benefits outweigh the cost. When in doubt, a marine should Elevate the decision of the chain of command. Elevate the decision up the chain of command - Answer -When you question your Authority, knowledge, or experience necessary to determine whether the risk will outweigh the cost, what should you do? Risk management levels - Answer -In depth Deliberate Time critical In depth - Answer -Applies when the available time for planning is not limiting factor and involves a very through risk assessment when the hazards and Associated risks are not well understood. Examples include long-term planning of complex operations, introduction of new equipment, materials, and missions, development of tactics and training curriculum, and major system overhaul of repair Deliberate - Answer -Refers to situations where there is ample time to apply to risk management process to Mission planning Evolution. This level as his primary experience personnel an