Risks

Question 1

Define Risk (What it means and how to get it)

Answer 1

Possibility of injury/loss or damage. Risk = severity x likelihood

Question 2

What are the 3 sources of risk?

Answer 2

Preventable, Strategic, External

Question 3

What are the 4 risk categories?

Answer 3

Safety, Technical, Project Management, Operational

Question 4

What are the 4 ways to manage risk?

Answer 4

Avoid, Mitigate, Transfer, Accept