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ARM 401 Assignment 1 - Identifying Risk ANSWERS SOLVED CORRECTLY TO SCORE A+
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11/1/24, 1:04 AM ARM 401 Assignment 1 - Identifying Risk Flashcards | QuizletARM 401 Assignment 1 - Identifying Risk ANSWERS
SOLVED CORRECTLY TO SCORE A+
Terms in this set (15)
A neutral party (the facilitator), who has no stake in the outcome or participation
Facilitated Workshops responsibilities, administers the risk workshop and propels the group to achieve its
goal.
Uses the opinions of a select group of experts to identify risks. Typically, these
Delphi Technique
experts don't meet but respond to a survey or inquiry instead.
Primarily used to design complex, scientific systems such as those used in
HAZOP engineering, chemical, mechanical, electronic, and computer operations. But it can
be adapted to analyze certain organizational strategies and initiatives.
Strengths, weaknesses, opportunities, and threats. This is a team approach that's
useful in analyzing a new project or product. The strengths and weaknesses are
SWOT analysis
internal environmental factors to be considered. The opportunities and threats are
external environmental factors.
Delmar AeroFab Inc. is designing a part for C) HAZOP
a commercial aircraft that cannot have any
defects. Which of these team-oriented
approaches to risk identification should it
adopt?
A) Facilitated Workshops
B) Delphi Technique
C) HAZOP
D) SWOT
Scenario Analysis Identifies risks and predicts the potential consequences of those specific risks.
Risk Threshold The range/amount of risk that is acceptable to take on.
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