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ARM 401 EXAM- 221 QUESTIONS AND ANSWERS
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- ARM 401 EXAM- 221 QUESTIONS AND ANSWERS
ARM 401 EXAM- 221 QUESTIONS AND ANSWERS
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ARM 401 EXAM- 221 QUESTIONS ANDANSWERS
HAZOP Process Steps - -1. Divide project/system into small components
2. Review components to identify risk
3. Identify cause and potential outcomes of risks
4. Develop solutions to risks
5. Ensure solutions work and reevaluate
-SWOT analysis (strengths, weaknesses, opportunities, threats) - -A SWOT
analysis is useful when there is a specific goal, such as determining whether
engaging in a new product or project is feasible. It's less useful for analyzing
current processes and procedures to identify risks unless there is a specific
objective, such as whether a procedure conforms to new regulations or
customer specifications. A goal is necessary to keep the SWOT analysis from
becoming too general or failing to provide actionable information. Generally
"go" or "no go"
-Risk Threshold - -The range or amount of risk that is acceptable
-Radio Frequency Identification (RFID) - -A technology that uses radio
frequency to identify objects
-Artificial Intelligence - -Computer processing or output that simulates
human reasoning or knowledge
-Computer Vision - -A technology that simulates human vision
-Risk registers should always do these 4 things: - -Identifies the
organization's risks appropriately
Prioritizes risks according to their potential effects on the organization
Allows for collaboration and instant updating by risk managers and
stakeholders
Tracks improvement actions to take, when they're taken, and when a follow-
up or review will occur
-Risk Register - -A tool developed at the risk owner level that links specific
activities, processes, projects, or plans to a list of identified risks and results
of risk analysis and evaluation and that is ultimately consolidated at the
enterprise level
-Risk Map vs Risk Register - -An organization would use a risk register to
identify, describe, and prioritize the risks of either a specific circumstance
(such as a process, project, or risk event) or the organization as a whole. It's
,essentially a ledger to document risks and all information related to them. A
risk map, on the other hand, is developed after a risk register and
incorporates information from the register. A risk map provides a visual
representation of a risk register's data to show which risks are the highest
priority for risk managers and owners.
-Relationship between inherent, residual, and optimuml risk - -if the
difference between the inherent risk and what the residual risk will be after a
treatment is applied is small, either the risk doesn't need to be treated or the
treatment itself isn't effective enough. The difference between the residual
risk and optimum risk represents how much further a risk can be reduced
-Risk Map - -A template depicting the likelihood and potential
impact/consequences of risks
-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
-Coordination - -the act of improving efficiency and reducing redundancy by
some combination of arranging, assigning, organizing, or scheduling
activities
-Collaboration vs. Cooperation - -Collaboration is the act of working
together to achieve a shared objective. Cooperation is the act of working
together to achieve individual objectives instead of a shared objective
-Predictive techniques, such as decision tree analysis and event tree
analysis: - -assign numerical values to various components related to a risk
and combine them to produce a probability estimate
-Risk Control - -A conscious act or decision not to act that reduces the
frequency and/or severity of losses or makes losses more predictable
-Three categories of accident causes: - -poor management, safety policy,
and personal or environmental factors
-Sequence of Events (Domino Theory) - -The sequence of events theory
proposes that these five accident factors can form a chain of events that, like
dominos, lead in succession to the resulting accident and injury:
, 1. Ancestry and social environment, such as inherited psychological
disorders and dysfunctional social environments
2. Fault of person, such as impulsiveness, violent temper, nervousness, or a
refusal to adapt to safe practices
3. An unsafe act and/or a mechanical or physical hazard, such as improper
use of machines or equipment, or poor maintenance of surroundings, such as
slippery floors or faulty railings
4. The accident itself
5. The resulting injury
Because each of the earlier links of the domino theory leads directly to the
next, removing any of the four factors that occur before the injury should, in
theory, prevent the resulting injury from occurring. Removal of the third
domino, the unsafe act and/or mechanical or physical hazard, is usually the
best way to break the accident sequence and prevent injury or illness; most
applicable to situations within human control; well-suited to accidents
caused by human carelessness
-TOR establishes five basic principles of risk control: - -An unsafe act, an
unsafe condition, and an accident are all symptoms of something wrong in
the management system.
Certain circumstances, unless identified and controlled, may produce severe
injuries.
Safety should be managed like any other organizational function, with
management setting achievable goals and planning, organizing, leading, and
controlling to achieve them.
Management must specify procedures for accountability if safety efforts are
to be effective.
The function of safety is to locate and define the operational errors that allow
accidents to occur.
-Technique of operations review (TOR) - -An approach to accident causation
that views the cause of accidents to be a result of management's
shortcomings. TOR tries to identify particular faults of an organization's
management and groups these faults into categories. It also helps identify
accident causes and suggests corrective actions.
-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.
-Change Analysis (predictive) - -An analysis that projects the effects a given
system change is likely to have on an existing system. As opposed to the
other techniques, which review accidents that occurred in an effort to
discover their causes, change analysis asks a series of what-if questions
regarding a possible change in process that has yet to occur. It then projects
the consequences for the changes
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