BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The chance of hazards or bad con-sequences; exposure to injury or loss.
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The identification and assessments of an individual hazard or all identified hazards combined to complete a task.
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The level of risk remaining after controls have been implemented.
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A mission must be determined when morethan one hazard is identified.
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Detailed explanation-1: -Risk assessment is the process of evaluation of the risks arising from a hazard, taking into account the adequacy of any existing controls and deciding whether or not the risks is acceptable.
Detailed explanation-2: -Hazard identification is part of the process used to evaluate if any particular situation, item, thing, etc. may have the potential to cause harm. The term often used to describe the full process is risk assessment: Identify hazards and risk factors that have the potential to cause harm (hazard identification).
Detailed explanation-3: -A risk assessment is the process of identifying what hazards currently exist or may appear in the workplace. A risk assessment defines which workplace hazards are likely to cause harm to employees and visitors.
Detailed explanation-4: -A risk assessment is a process to identify potential hazards and analyze what could happen if a hazard occurs. A business impact analysis (BIA) is the process for determining the potential impacts resulting from the interruption of time sensitive or critical business processes. There are numerous hazards to consider.
Detailed explanation-5: -The risk identification and assessment process is a critical part of effectively managing risks or events as part of an organization’s operational risk. Risks are identified, and then classified by risk category.