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Ch. 6 Risk Identification
Terms in this set (12)
ID risks in dynamic way, helpful to include reps from diverse groups in the organization during these workshops because discussion of the combined and cascading effects of risks provides valuable info on level of risk + priority
Uses opinions of a select group of experts to identify risks. Standard technique: submitting two rounds of queries to the selected experts
ID various risks and projects the potential consequences of those risks. Useful in IDing range of potential consequences + in prioritizing risks. Org should assemble an internal cross-functional team to obtain a multidimensional view of the potential consequences of a risk.
Subdivide the design process into components and ID risks associated with each. A study team assembles in a facilitated workshop and follows these steps: subdivides the project or system design into small components, reviews each component to ID risks, IDs cause and potential outcome for each risk, develops a solution for each risk.
strengths, weaknesses, opportunities, and threats. Type of team approach is useful in analyzing a new project or product. Strength/weaknesses = internal. Opps/threats = external.
tool developed at the risk owner level that links specific activities, processes, projects or plans to a list of identified risks and results of risk analysis + evaluation and that is ultimately consolidated at enterprise level.
Purpose of risk register
matrix to ID risks according to likelihood and potential consequences for the organization
A template depicting the likelihood and potential impact/consequences of risks.
risk to an entity apart from any action to alter either the likelihood or impact of the risk
risk remaining after actions to alter the risk's likelihood or impact
level of risk that is within an org's risk appetite
THIS SET IS OFTEN IN FOLDERS WITH...
Ch. 1 Introduction to Risk Management
Ch. 2 Risk Management Standards and Frameworks
Ch. 3 Hazard Risk
Ch. 5 Risk Management Framework and Process
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OTHER SETS BY THIS CREATOR
Ch. 11 Monitoring and Reporting on Risk
Ch. 9 Big Data Analytics for Managing Risk
Ch. 8 Risk Treatment
Ch. 7 Risk Analysis