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[Show more]holistic approach to managing risk - -broader in scope, managing all areas of the business, not just 
hazard risks 
-encompasses the analysis and predictability of business processes and organizational decisions 
-mandates the collaboration of internal and external stakeholders to identify, assess, ...
Preview 4 out of 50 pages
Add to cartholistic approach to managing risk - -broader in scope, managing all areas of the business, not just 
hazard risks 
-encompasses the analysis and predictability of business processes and organizational decisions 
-mandates the collaboration of internal and external stakeholders to identify, assess, ...
Strategic Risk 
Hazard Risk 
Operational Risk 
Financial Risk - What are the 4 classifications of risks in the risk quadrant? 
Strategic Risk - Risk with uncertainties associated with the organization's long-term goals and 
management decisions 
Operational Risk - Risk with uncertainties associated...
Preview 2 out of 5 pages
Add to cartStrategic Risk 
Hazard Risk 
Operational Risk 
Financial Risk - What are the 4 classifications of risks in the risk quadrant? 
Strategic Risk - Risk with uncertainties associated with the organization's long-term goals and 
management decisions 
Operational Risk - Risk with uncertainties associated...
HAZOP Process Steps - 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) - A SW...
Preview 3 out of 27 pages
Add to cartHAZOP Process Steps - 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) - A SW...
A risk map showing a large difference between inherent and residual risk indicates which one of the 
following? 
A. The risk is within the organization's risk appetite 
B. The current risk treatment is ineffective 
C. The current risk treatment is effective 
D. The risk does not need to be treated ...
Preview 4 out of 111 pages
Add to cartA risk map showing a large difference between inherent and residual risk indicates which one of the 
following? 
A. The risk is within the organization's risk appetite 
B. The current risk treatment is ineffective 
C. The current risk treatment is effective 
D. The risk does not need to be treated ...
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