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| Section | Objectives |
|---|---|
| Introduction to Risk Management | - Basic risk concepts and terminology - Purpose and benefits of risk management |
| Risk Assessment | - Risk prioritization methods - Likelihood and impact evaluation |
| Risk Communication and Reporting | - Stakeholder communication - Risk reporting structures |
| Risk Identification | - Risk sources and categories - Risk description techniques |
| MoR Principles and Approach | - MoR framework overview - Governance and embedding risk management |
| Risk Response and Control | - Risk response options (avoid, reduce, transfer, accept) - Control selection and implementation |
Question 1
Which BEST describes an area of uncertainty at the operational perspective?
A. Minimizing disruptions to customer services during transformational change
B. Availability of skills required to deliver services to customers
C. Variation to the schedule of a defined business product
D. Damage to the organization's infrastructure
Question 2
Which is a responsibility of the senior team role?
A. Approve assessments of risk probability, impact and proximity
B. Agree the timing of risk progress reports for an activity
C. Specify the required budget to fund risks
D. Document the importance of risk management towards achieving organizational objectives
Question 3
What is risk exposure?
A. Maximum amount of risk that an organization can bear
B. System by which organizations are directed and controlled
C. Amount of risk the organization, or subset of it, is willing to accept
D. Combined effect of risks to a set of objectives
Question 4
How is the risk progress report used in the'implement' step?
A. Gain agreement for the amount of risk that can be taken
B. Identify the scales used to measure the probability and impact of a risk
C. Identify the status against the activity's stated measures for risk management
D. Describe actions to enhance how risk management is performed
Question 5
Which perspective would the 'fits the context' principle be applied to in order to identify laws that impact core business activities?
A. Strategic
B. Operational
C. Programme
D. Project
Solutions:
| Question 1 Answer: B | Question 2 Answer: D | Question 3 Answer: D | Question 4 Answer: C | Question 5 Answer: A |
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