Lesson 9: Business Apps for Change & Risk Flashcards
The established way a business provides a product or service is how it is _________.
configured
Controlling how a product or service is configured is called configuration mgmt.
T or F
Org’s configure their product, service, or system to ensure it is predictably reproducible, safe, and consistently reliable.
T
What two types of audits are conducted as part of the config mgmt process?
- Functional Config Audit - Ensures functional and performance characteristics
- Physical Config Audit - Ensures physical characteristics
Risk mgmt is a _______ process for identifying risks and addressing risks, that if significant, could affect an org’s _______ and _______.
proactive / sustainability / survivability
T or F
Risk, while normally thought of as a negative consequence as opposed to opportunities, is defined by some as a combination of the probability of an event and its consequence (positive or negative outcomes)
T
Overall, risk is the probable loss of ________ to the org.
wealth
Risks associated with a project, process, or product are _______ or _______.
inherent (nature of) / acquired (selected method or approach)
T or F
Mgmt of risk will usually require ________ between potential loss and gain since eliminating all risk is not feasible.
T
balance
Which type of risk, inherent or acquired, is more difficult to reduce?
Inherent
T or F
According to ASQ, Risk Methodology Consists of:
- Est. the context
- Identifying the risks
- Conduct risk analysis
- Conduct risk eval.
T
During what types of audits should auditors continually test the “what if” scenarios to identify possible failures ?
Process Audits
Every ______ ______ in a process is an opportunity to apply error-proofing (mistake proofing) techniques.
decision point
New sources of risk may be identified during _______ audits.
process
What kind of plans are designed to reduce, contain, or control risk?
Contingency Plans
Within an org, change must be controlled to avoid ______ ______.
unnecessary risk
