Identifying and Analyzing Risks

Question 1

Organizations should take all steps that are reasonably possible to ensure the health, safety, and well-being of employees and protect them from foreseeable injury.

Answer 1

duty of care

Question 2

The potential for harm, often associated with a condition or activity that, if left uncontrolled, can result in injury or illness.

Answer 2

hazard

Question 3

Tool used to gather individual assessments of various characteristics of risk (e.g., frequency of occurrence; degree of impact, loss, or gain for the organization; degree of efficacy of current controls).

Answer 3

risk scorecard

Question 4

Prepare, act, park and adapt

Answer 4

PAPA model

Question 5

Events that are not likely to happen but will materialize quickly if they do.

Answer 5

Prepare

Question 6

Events that are both highly probable and fast-moving.

Answer 6

Act

Question 7

Events that are slow-moving and unlikely.

Answer 7

Park

Question 8

Events that are actually slowly materializing trends that may affect the organization significantly.

Answer 8

Adapt

Question 9

Metrics that “provide an early signal of increasing risk exposures in the various areas of an enterprise.”

Answer 9

key risk indicators (KRIs)