AIDA 181: Assignment 10 questions with
complete solutions
SWOT analysis - correct answer ✔✔strengths, weaknesses, opportunities, threats
strengths and weaknesses are internal environmental factors that could potentially be affected by a data
analytics
opportunities and threats are external environmental factors that could be affected by data analytics
Enterprise risk management - correct answer ✔✔An approach to managing all of an organization's key
business risks and opportunities with the intent of maximizing shareholder value. Also known as
enterprise-wide risk management.
As the data analytics initiative progresses, the project manager compares the quality, time, budget, and
other constraints established for the project with the project status and determines whether the project
goal will be achieved or whether resources should be reallocated to achieve the goal. These activities are
part of
Select one:
A. Monitoring and reviewing the data analytics project.
B. Analyzing the risk associated with the data analytics project to determine the source, cause, and
consequences of each risk.
C. Identifying the risks associated with the data analytics project.
D. Scanning the internal and external environments to determine how the data analytics project will
affect stakeholders. - correct answer ✔✔A. Monitoring and reviewing the data analytics project.
An insurer can use a strengths, weaknesses, opportunities, and threats (SWOT) analysis to target data
analytics which can create a competitive advantage. Which one of the following results from targeting
data analytics techniques?
Select one:
A. All the insurer's threats are eliminated.
B. Missed opportunities in the insurer's business strategy are identified.
, C. The strengths inherent in the insurer's business strategy are reinforced.
D. All the insurer's weaknesses are eliminated. - correct answer ✔✔C. The strengths inherent in the
insurer's business strategy are reinforced.
Three Hills Insurance decided to incorporate data analytics into all of its processes over a period of two
years. The leadership team repeatedly reviewed the timelines for implementation to make sure that they
were reasonable and not inappropriately ambitious. Which one of the following steps in the change
management process is the team trying to accomplish by doing this?
Select one:
A. Articulate the need for change
B. Entrench the change
C. Communicate the vision and strategies
D. Eliminate barriers to change - correct answer ✔✔D. Eliminate barriers to change
In scanning the environment, the risk manager for an organization's data analytics initiative first needs to
develop
Select one:
A. A strategy to inform affected employees about the initiative and encourage their participation in the
project, while recruiting data scientists and support personnel.
B. A sense of how the initiative will merge with its existing infrastructure and how the project could
affect the organization's stakeholders.
C. A list of specific categories of data that the project intends to analyze and the means of acquiring the
necessary data.
D.
An idea of the number of risks that are associated with the initiative and of those which will require
treatment. - correct answer ✔✔B. A sense of how the initiative will merge with its existing infrastructure
and how the project could affect the organization's stakeholders.
Establishing a sense of urgency helps managers
Select one:
A. Pay closer attention to the concerns expressed by employees about customer-facing issues and how
they can be resolved.
complete solutions
SWOT analysis - correct answer ✔✔strengths, weaknesses, opportunities, threats
strengths and weaknesses are internal environmental factors that could potentially be affected by a data
analytics
opportunities and threats are external environmental factors that could be affected by data analytics
Enterprise risk management - correct answer ✔✔An approach to managing all of an organization's key
business risks and opportunities with the intent of maximizing shareholder value. Also known as
enterprise-wide risk management.
As the data analytics initiative progresses, the project manager compares the quality, time, budget, and
other constraints established for the project with the project status and determines whether the project
goal will be achieved or whether resources should be reallocated to achieve the goal. These activities are
part of
Select one:
A. Monitoring and reviewing the data analytics project.
B. Analyzing the risk associated with the data analytics project to determine the source, cause, and
consequences of each risk.
C. Identifying the risks associated with the data analytics project.
D. Scanning the internal and external environments to determine how the data analytics project will
affect stakeholders. - correct answer ✔✔A. Monitoring and reviewing the data analytics project.
An insurer can use a strengths, weaknesses, opportunities, and threats (SWOT) analysis to target data
analytics which can create a competitive advantage. Which one of the following results from targeting
data analytics techniques?
Select one:
A. All the insurer's threats are eliminated.
B. Missed opportunities in the insurer's business strategy are identified.
, C. The strengths inherent in the insurer's business strategy are reinforced.
D. All the insurer's weaknesses are eliminated. - correct answer ✔✔C. The strengths inherent in the
insurer's business strategy are reinforced.
Three Hills Insurance decided to incorporate data analytics into all of its processes over a period of two
years. The leadership team repeatedly reviewed the timelines for implementation to make sure that they
were reasonable and not inappropriately ambitious. Which one of the following steps in the change
management process is the team trying to accomplish by doing this?
Select one:
A. Articulate the need for change
B. Entrench the change
C. Communicate the vision and strategies
D. Eliminate barriers to change - correct answer ✔✔D. Eliminate barriers to change
In scanning the environment, the risk manager for an organization's data analytics initiative first needs to
develop
Select one:
A. A strategy to inform affected employees about the initiative and encourage their participation in the
project, while recruiting data scientists and support personnel.
B. A sense of how the initiative will merge with its existing infrastructure and how the project could
affect the organization's stakeholders.
C. A list of specific categories of data that the project intends to analyze and the means of acquiring the
necessary data.
D.
An idea of the number of risks that are associated with the initiative and of those which will require
treatment. - correct answer ✔✔B. A sense of how the initiative will merge with its existing infrastructure
and how the project could affect the organization's stakeholders.
Establishing a sense of urgency helps managers
Select one:
A. Pay closer attention to the concerns expressed by employees about customer-facing issues and how
they can be resolved.
