ARM 400
SRP stages - Answer--emergency stage
-alternative marketing stage
-contingency production stage
-communication stage
strategic redeployment plan - Answer-determines how to resume operations in a way that repairs an
org's reputation and ensures its recovery and survival; when BCPs fail
BCP elements - Answer--time goal
-operational goal
-resources needed
-details tasks and procedures
-documentation
risk-transfer model - Answer-purchasing BI insurance
prioritization model - Answer-prioritizing which products to produce or which customers to serve
contingency model - Answer-developing an alternative way to maintain production
traditional risk assessment - Answer--focus on root cause analysis
,-can only look backward
-might not identify all root causes and the related events that contribute to a loss
big data - Answer-sets of data that are too large to be gathered and analyzed by traditional methods
the big data revolution is fueled by: - Answer-the capture, storage, and analysis of big data
data capture - Answer-enabled primarily by smart products interactions through the internet of things
smart prodcuts - Answer-an innovative item that uses sensors, wireless sensor networks, and data
collection, transmission, and analysis to further enable the item to be faster, more useful, or otherwise
improved
internet of things - Answer-A network of objects that transmit data to and from each other without
human interaction
cloud computing - Answer-storage at remote locations through the internet without a direct server
connection; enables vast amounts of data to be stored and shared
blockchain - Answer-a distributed ledger that facilitates secure transactions without the need for a third
party
telematics - Answer-The use of technological devices in vehicles with wireless communication and GPS
tracking that transmit data to businesses or government agencies; some return information for the
driver
text mining - Answer-obtaining info through language recognition; can be used to compare documents
and analyze notes
, tolerable uncertainty - Answer-aligned risks with the organization's risk appetite
risk appetite - Answer-the amount of risk an organization is willing to take on in order to achieve an
anticipated result or return
tolerable uncertainty components - Answer-reduce downside risk, earnings stability, anticipate and
recognize emerging risks, business continuity
continuity of operations - Answer-essential goal for all public entities
holistic risk management goals - Answer-tolerable uncertainty, profitability and growth, legal and
regulatory compliance, social responsibility, reduced cost of risk, reduced deterrent effects of hazard
risks
reduced deterrent effects of hazard risks - Answer--alleviates management's fears about potential losses
-increases profit potential by greater participation in investment or production activities
-makes org a safer investment and more attractive
basic risk measures - Answer-exposure, volatility, likelihood, consequences, time horizon, correlation
exposure - Answer-any conditions that presents a possibility of gain or loss, whether or not an actual
loss occurs
volatility - Answer-frequent fluctuations, such as in the price of an asset
likelihood - Answer-a qualitative estimate of the certainty with which the outcome of a specific event
can be predicted
SRP stages - Answer--emergency stage
-alternative marketing stage
-contingency production stage
-communication stage
strategic redeployment plan - Answer-determines how to resume operations in a way that repairs an
org's reputation and ensures its recovery and survival; when BCPs fail
BCP elements - Answer--time goal
-operational goal
-resources needed
-details tasks and procedures
-documentation
risk-transfer model - Answer-purchasing BI insurance
prioritization model - Answer-prioritizing which products to produce or which customers to serve
contingency model - Answer-developing an alternative way to maintain production
traditional risk assessment - Answer--focus on root cause analysis
,-can only look backward
-might not identify all root causes and the related events that contribute to a loss
big data - Answer-sets of data that are too large to be gathered and analyzed by traditional methods
the big data revolution is fueled by: - Answer-the capture, storage, and analysis of big data
data capture - Answer-enabled primarily by smart products interactions through the internet of things
smart prodcuts - Answer-an innovative item that uses sensors, wireless sensor networks, and data
collection, transmission, and analysis to further enable the item to be faster, more useful, or otherwise
improved
internet of things - Answer-A network of objects that transmit data to and from each other without
human interaction
cloud computing - Answer-storage at remote locations through the internet without a direct server
connection; enables vast amounts of data to be stored and shared
blockchain - Answer-a distributed ledger that facilitates secure transactions without the need for a third
party
telematics - Answer-The use of technological devices in vehicles with wireless communication and GPS
tracking that transmit data to businesses or government agencies; some return information for the
driver
text mining - Answer-obtaining info through language recognition; can be used to compare documents
and analyze notes
, tolerable uncertainty - Answer-aligned risks with the organization's risk appetite
risk appetite - Answer-the amount of risk an organization is willing to take on in order to achieve an
anticipated result or return
tolerable uncertainty components - Answer-reduce downside risk, earnings stability, anticipate and
recognize emerging risks, business continuity
continuity of operations - Answer-essential goal for all public entities
holistic risk management goals - Answer-tolerable uncertainty, profitability and growth, legal and
regulatory compliance, social responsibility, reduced cost of risk, reduced deterrent effects of hazard
risks
reduced deterrent effects of hazard risks - Answer--alleviates management's fears about potential losses
-increases profit potential by greater participation in investment or production activities
-makes org a safer investment and more attractive
basic risk measures - Answer-exposure, volatility, likelihood, consequences, time horizon, correlation
exposure - Answer-any conditions that presents a possibility of gain or loss, whether or not an actual
loss occurs
volatility - Answer-frequent fluctuations, such as in the price of an asset
likelihood - Answer-a qualitative estimate of the certainty with which the outcome of a specific event
can be predicted
