RIMS - CRMP Complete Study
Guide; 1 Analyze the Business
Model, 2 Developing
Organizational Risk
Strategies, 3 RIMS CRMP-
Implementing the Risk
Process, 4 Developing
Organizational Risk
Management Competency, 5
Supporting Decision Making,
Question And Answer Test
2024
,Risks - ANSWER-The effect of uncertainty on
objectives
The chance of something happening that will
have an impact on objectives
Being prepared for the worst and being
poised to exploit opportunities as they are
discovered
,Enterprise Risk Management - ANSWER-A
strategic business discipline that supports the
achievement of an organization's objectives
by addressing the full spectrum of its risks
and managing the combined impact of those
risks as an interrelated risk portfolio.
Support Function: Business continuity and
crisis management - ANSWER-Risk
identification, assessment and creation of
emergency response and recovery plans
related to threats or hazards that might lead
to operational disruptions
Analysis - ANSWER-A systematic
examination and evaluation of data or
information by breaking it into its component
, parts to uncover their relationships. An
examination of data and facts to uncover and
understand cause-effect relationships, thus
providing basis for problem solving and
decision making.
To embed risk management in both routine
and strategic decision, what should managers
be able to recognize? - ANSWER-The type of
decision being made; Who should be
included in the decision making process;
Where in the process decisions are being
made
Risk management strategies' general focus -
ANSWER-Meeting or exceeding an
organization's objectives
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