BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Not consider all possibilities.
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Encourage participants be over optimistic.
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Support participants being over pessimistic.
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Focus on consequences and not on the events that could produce consequences.
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Give too much attention to past events.
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Detailed explanation-1: -One common mistake that is made early on in the risk identification process is to focus on consequences and not on the events that could produce consequences. A risk profile is a list of questions that have been developed and refined from previous, similar projects.
Detailed explanation-2: -However, a common error during risk identification is not differentiating between risk causes, risk events, and impacts.
Detailed explanation-3: -The objective of risk identification is to understand what is at risk within the context of the Institution’s explicit and implicit objectives and to generate a comprehensive inventory of risks based on the threats and events that might prevent, degrade, delay or enhance the achievement of the objectives.
Detailed explanation-4: -When identifying risk, a team should initially focus on what aspect of risk? A chance event happening.
Detailed explanation-5: -In addition to technical expertise and experience, personal contacts and group dynamics are keys to successful risk identification.