9.3 Identifying emerging risk

Question 1

What is an emerging risk?

Answer 1

A significant new risk or risk that was known about previously but not considered significant.

Question 2

Name two techniques for assessing emerging risk

Answer 2

PEST analysis

SWOT analysis

Question 3

What does PEST stand for?

Answer 3

Political
Economical
Social
Technological

(sometimes also Environmental and Legal)

Question 4

How is PEST analysis usually conducted?

Answer 4

By a group such as as a focus group from relevant functions supported by a facilitator.

Question 5

Wat does SWOT stand for?

Answer 5

Strengths
Weaknesses
Opportunities
Threats

Question 6

Which elements of SWOT analysis are internal versus external?

Answer 6

Internal = strengths and weaknesses
External = threats and opportunities

Question 7

Name the global report on current and emerging risks. issued annually.

Answer 7

World Economic Forum Global Risk Report

Question 8

What were the five most recently identified top risks in the World Economic Forum Global Risk Report?

Answer 8

Weapons of mass destruction
Extreme weather events
Natural disasters
Failure of climate change mitigation and adaptation
Water crises