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International Certificate In Risk Management (IRM) - Updated > Abbreviations and Acronyms > Flashcards

Abbreviations and Acronyms Flashcards

Memorize the abbreviations used in Risk Management

1
Q

The 4Cs?

A

Comfort
Cautious
Concerned
Critical

(Hopkin, figure 10.1)

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2
Q

The 4Es?

A

Explore
Exit
Exploit
Exist

(Hopkin, figure 15.2)

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3
Q

The 4Ns?

A

Naive
Novice
Normalized
Natural

(Hopkin, figure 24.1)

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4
Q

The 4Ps?

A

People
Premises
Processes
Products

(Hopkin, table 3.2)

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5
Q

The 4Ts?

A

Tolerate
Treat
Transfer
Terminate

(Hopkin, chapter 15)

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6
Q

The 5Cs?

A 
Clear
Concise
Coherent
Credible
Complete

(Hopkin, chapter 26)

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7
Q

The 5Es?

A

Explore
Exit or Expand
Exploit
Exist

(Hopkin, figure 15.3)

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8
Q

The 6Cs?

A 
Cost
Coverage
Capacity
Capabilities
Claims
Compliance

(Hopkin, Chapter 17)

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9
Q

The 8Rs?

A 
Recognition
Rating
Ranking
Responding
Resourcing controls
Reaction Planning
Reporting
Reviewing

(Hopkin, figure 4.1)

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10
Q

BCP?

A

Business Continuity Plan

Hopkin, chapter 18

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11
Q

BIA?

A

Business Impact Analysis

Hopkin, chapter 18

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12
Q

BPR?

A

Business Process Re-engineering

Hopkin, chapter 19

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13
Q

CASE?

A

Capabilities
Activities
Standards
Ethics

(Hopkin, chapter 20)

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14
Q

CEO?

A

Chief Executive Officer

Hopkin, Chapter 22

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15
Q

CoCo?

A

Criteria of Control

Hopkin, figure 33.1

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16
Q

CORR?

A

Customer
Offering
Resources
Resilience

(Hopkin, chapter 20)

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17
Q

COSO?

A

Committee of sponsoring organisations of the Treadway committee

(Hopkin, figure 6.3)

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18
Q

CRAM?

A

Communication
Relationship
Analytical
Management

(Hopkin, table 27.2)

19
Q

CRSA?

A

Control Risk Self-Assessment

Hopkin, chapter 34

20
Q

CSFSRS?

A 
Customers
Staff
Financiers
Suppliers
Regulators
Society

(Hopkin, Chapter 29)

21
Q

CSR?

A

Corporate Social Responsibility

Hopkin, table 20.1

22
Q

DRP?

A

Disaster Recovery Plan

Hopkin, chapter 18

23
Q

EM3?

A

Embrace
Manage
Mitigate
Minimize

(Hopkin, chapter 3)

24
Q

FIRM?

A

Financial
Infrastructure
Reputational
Marketplace

(Hopkin, table 11.2)

25
Q

FOIL?

A

Fragmented
Organized
Influential
Leading

(Hopkin, table 24.3)

26
Q

FMEA?

A

Failure Modes Effects Analysis

Hopkin, chapter 10

27
Q

GRC?

A

Governance, Risk and Compliance

Hopkin, figure 35.2

28
Q

HAZOP?

A

Hazard and operability

Hopkin, chapter 10

29
Q

IIA?

A

Institute of Internal Auditors

Hopkin, chapter 35

30
Q

LILAC?

A 
Leadership
Involvement
Learning
Accountability
Communication

(Hopkin, table 24.3)

31
Q

MADE2?

A

Mandatory
Assurance
Decision-making
Effective & Efficient core processes

(Hopkin, table 5.2)

32
Q

OECD?

A

Organisation for Economic Cooperation and Development

Hopkin table 28.1

33
Q

PACED?

A 
Proportionate
Aligned
Comprehensive
Embedded
Dynamic

(Hopkin, table 5.1)

34
Q

PCDD?

A

Preventative
Corrective
Directive
Detective

(Hopkin, table 16.1)

35
Q

PDCA?

A

Plan
Do
Check
Act

(Hopkin, chapter 9)

36
Q

PESTLE?

A 
Political
Economic
Social
Technological
Legal
Ethical

(Hopkin, table 11.3)

37
Q

PIML?

A

Plan
Implement
Measure
Learn

(Hopkin, Appendix C)

38
Q

PRAM?

A

Project Risk Assessment and Management

Hopkin, table 31.1

39
Q

RASP?

A

Risk Architecture, Strategy and Protocols

Hopkin, chapter 21

40
Q

RMIS?

A

Risk Management Information System

Hopkin, table 26.3

41
Q

SEE?

A

Social, Ethical and Environmental

Hopkin, chapter 20

42
Q

STOC?

A

Strategy
Tactical
Operations
Compliance

(Hopkin, chapter 3)

43
Q

SWOT?

A

Strengths, Weaknesses, Opportunities & Threats

Hopkin, chapter 10

International Certificate In Risk Management (IRM) - Updated (18 decks)

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