Topic 3: Risk Identification

Question 1

List some traditional risk identification techniques.

Answer 1

standardized document analysis
organization-specific document analysis
checklists
process flow analysis

Question 2

List new and emerging risk ID techniques.

Answer 2

IoT
telematics–snapshot, RFID
high definition–sansors and cameras
drones and robots

Question 3

What is included in a risk register and how is it used?

Answer 3

identifies, describes, prioritizes risks

risk ID, risk description, frequency, severity, ERM quadrant

Question 4

Describe a risk map and what it is used for.

Answer 4

diagram to visualize risks from the risk register. helps determine which risks to prioritize using frequency and severity