ARM 401 - Segment A With Solutions Verified By Experts
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Course
ARM 401
Institution
ARM 401
ARM 401 - Segment A With Solutions
Verified By Experts
Risk appetite Amount of risk an organization is willing to take on in order to achieve an
anticipated result or return.
Inherent risk The level of risk that would be faced if it were to remain untreated or no
action were to be taken to ...
ARM 401 - Segment A With Solutions
Verified By Experts
Risk appetite Amount of risk an organization is willing to take on in order to achieve an
anticipated result or return.
Inherent risk The level of risk that would be faced if it were to remain untreated or no
action were to be taken to alter the level of risk.
Residual risk The level of risk remaining after actions are taken to alter the level of risk.
Optimum risk The level of risk that is within an organization's risk appetite.
Risk control A conscious act or decision not to act that reduces the frequency and/or
severity of losses or makes losses more predictable.
Energy transfer theory An approach to accident causation that views accidents as energy
that is released and that affects objects, including living things, in amounts or at rates that the
objects cannot tolerate.
, ARM 401 - Segment A With Solutions
Verified By Experts
Technique of operations review (TOR) An approach to accident causation that view the
cause of accidents to be a result of management's shortcomings.
Change analysis An analysis that projects the effects a given system change is likely to
have on an existing system.
Job safety analysis (JSA) An analysis that dissects a repetitive task, whether performed by
a person or machine, to determine potential hazards if each action is not performed.
System safety A safety engineering technique also used as an approach to accident
causation that considers the mutual effects of the interrelated elements of a system on one
another throughout the system's life cycle.
Conceptual phase A phase in the life of a system when the basic purpose and preliminary
design of the system are formulated.
Engineering phase A phase in the life of a system when the system's design is constructed
and prototypes are tested.
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