Mnemonics Flashcards
1
Q
A
2
Q
A
3
Q
A
4
Q
A
5
Q
A
6
Q
A
7
Q
A
8
Q
A
9
Q
A
10
Q
A
11
Q
A
12
Q
A
13
Q
A
14
Q
A
15
Q
A
16
Q
A
17
Q
A
18
Q
A
19
Q
A
20
Q
A
21
Q
A
22
Q
A
23
Q
A
24
Q
A
25
26
27
28
29
30
31
25.What are the benefits of risk management to a provider?
SAVIOURS
* Strategic decision making improved (integration of risk into processes)
* Avoid surprises
* Volatility of profits reduced (improved financial stability/quality of business)
* Improved profits via capital efficiency (management and allocation of capital)
* Opportunities exploited for profit
* Understand interdependencies (concentration of risk, diversification benefits, natural synergies) and aggregate risk exposure
* React quickly to emerging risks
* Stakeholders in the business given confidence
32
26.What categories and example of risks could be used in a risk matrix for a typical project?
Please Never Eat Fried Chicken Past Bedtime
* Political - opposition to project, war, terrorism
* Natural - earthquakes, hurricanes
* Economic - interest rate or exchange rate movements
* Financial - sponsor default, incorrect cashflow estimates
* Crime - fraud, theft
* Project - time delays, budget overruns, bad design, poor planning
* Business - competition/lack of demand, operational problems, obsolescence
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
