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What are the two main forms of Risk Analysis?
There are two main forms of Risk Analysis:1. Qualitative Risk Analysis &2. Quantitative Risk AnalysisQualitative Risk AnalysisThis is used to prioritize risks by estimating the probability of the occurrence of a risk and its impact on the project.Quantitative Risk AnalysisThis is used to perform numerical analysis to estimate the effect of each identified risk on the overall project objectives and deliverables.Usually, you prioritize risks by performing qualitative analysis on them before you perform quantitative analysis. We will learn both one by one in the subsequent chapters.
What step in the composite risk management process is focused on determining the probability and severity of a hazard occurring?
Risk Assessment & Analysis – This is the step where we analyze all those risks identified in the previous step. We will shortlist only those important (high impact/probability) risks and move the lower priority/possibility risks to a watch list.
What percent of accidents are caused by drivers ages 16-24?
Drivers aged 16-24 are involved in approximately 30% of motor vehicle accidents, despite representing a smaller percentage of the overall driving population. This age group tends to have higher accident rates due to factors such as inexperience, risk-taking behavior, and distractions. Consequently, they are often identified as a high-risk demographic in traffic safety studies.
What is a negative risk?
A negative risk is something that is a bad or dangerous risk to take.
What is a sample of control risk?
risk control is when cows are born in the ocean risk control is when cows are born in the ocean
What chemicals in cigarettes put you at risk of dying?
nicotine
Within the Risk Assessment application is medium risk identified by using a yellow star shape?
No. It is identified with a yellow triangle.
Risk assessment is built on the foundation that you've identified what?
Risk assessment is built on the foundation that you've identified all the relevant hazards or risks.
What is the Risk remaining after controls have been identified and selected?
It is residual risk
What does residual risk mean in the Risk Management process?
Risk that remains after all controls have been identified and selected.
What does residual risk mean in the composite risk management?
It means risk that remains after all controls have been identified and selected.
What is risk analysis?
Once the risks have been identified, you need to answer two main questions for each identified risk: 1. What are the odds that the risk will occur, 2. If it does occur, what will its impact be on the project objectives? You get the answers by performing risk analysis. There are two main forms of Risk Analysis: 1. Qualitative Risk Analysis & 2. Quantitative Risk Analysis
What is a risk trigger?
In Project Management, a risk trigger is an identified measure or indicator that signals to the project that the risk event may occur.
What does the term risk mean in the CRM process?
Risk that remains after all controls have been identified and selected
What does the term residual risk in the crm process?
Risk that remains after all controls have been identified and selected
What are the risk factors for vulvar cancer?
studies have identified several risk factors for vulvar cancer. These include:
What are actions taken or measures put in place to eliminate a hazard or reduce the associated identified risk.?
Are actions taken or measures put in place to eliminate a hazard or reduce the associated identified risk.?
