Acroymns

Question 1

RASP

Answer 1

Risk
Architecture, Strategy and Protocols

Question 2

PACED - essential factors to achieve max benefits

Answer 2

Proportionate, Aligned, Comprehensive, Embedded, Dynamic

Question 3

PIML

Answer 3

Planning, Implementing, Measuring and Learning
Similar to PDCA

Question 4

PDCA

Answer 4

Plan, Do, Check, Act

Question 5

PIML

Answer 5

Plan implement measure learn

Question 6

STOC

Answer 6

Core processes and activities that encompass whole range of processes in org.
Provides four areas of improvement:
Strategic risks analysed
Tactics (actions you take)
Operations (risks identified in advance)
Compliance
The Source in a bow tie

Question 7

PACED

Answer 7

Proportionate: based on appropriate level the org faces
Aligned: with other activities in org
Comprehensive: All activities and risks faced
Embedded: into org
Dynamic: responsive to changing environment

Question 8

FIRM - impact (bow tie) is used to define FIRM of org.

Answer 8

Finances
Infrastructure
Reputation
Marketplace

Question 9

MADE 2 (can be used to assess benefits)

Answer 9

Mandatory, Assurance, Decision Making, Effective and Efficient processes

Question 10

PESTLE

Answer 10

Political, Economic, Social, Technological, Legal and Environmental