Do you know about operational risk management? What is the hazard? What is the definition of risk? Take this operational risk management quiz and check if you already know about the things we asked above. Operational risk management (abbreviated as ORM) is a recurring process that focuses on reporting risk issues. In short, we can say the operational risk is See morethe risk of doing any business. Let's begin the quiz and learn more about it in detail.
Hazard
Probability
Severity
Risk
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The likelihood that a hazard will result in a mishap or loss
The likelihood that a hazard will result in a disaster
The likelihood that a hazard will result in a favorable outcome
The likelihood that a hazard will result in a change in command
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The right process
Risk assessment
Risk Management Process
None of the above
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Operational Rated Management
Organized Risk Assessment
Operational Risk Management
Organized Risk Management
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Take action
Re-assessing the process
Supervise
Both A & B
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Is a decision making tool
Increases ability to make informed decisions
Reduces risks to acceptable levels
All of the above
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New Technology
Change "The Mother of all Risk"
Environmental influences
Chemical breakdown
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Make risk decisions at the right level
Make risk decisions right away
Make no decsions until after talking it over
All of the above
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Time crtical - On the run consideration of 5 steps
Deliberate - Application of the complete 5 step process
In-Depth - Complete 5-Step Process with detailed analysis
All of the above
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Quiz Review Timeline (Updated): Aug 19, 2023 +
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