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ARM 401 - Segment A - Chapters 1, 2, 3ANSWERS SOLVED CORRECTLY TO SCORE A+
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ARM 401 - Segment A - Chapters 1, 2, 3ANSWERS SOLVED CORRECTLY TO SCORE A+
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11/1/24, 12:27 AM ARM 401 - Segment A - Chapters 1, 2, 3 Flashcards | QuizletARM 401 - Segment A - Chapters 1, 2, 3ANSWERS
SOLVED CORRECTLY TO SCORE A+
The Range or amount of risk that is Risk Threshold
acceptable
A device that detects and measures stimuli Sensor
in its environment
A technology that uses radio frequency to Radio Frequency Identification (RFID)
identify objects
Computer processing or output that Artificial intelligence (AI)
stimulates human reasoning or knowledge
A technology that stimulates human vision Computer vision
A tool developed at the risk owner level Risk Register
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
A template depicting the likelihood and Risk Map
potential impact/consequences of risks
Amount of risk an organization is willing to Risk appetite
take on in order to achieve an anticipated
result or return
The level of risk that would be faced if it Inherent Risk
were to remain untreated or no action were
to be taken after the level of risk
The level of risk remaining after actions are Residual Risk
taken to alter the level of risk
The level of risk that is within an Optimum risk
organization's risk appetite
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, 11/1/24, 12:27 AM ARM 401 - Segment A - Chapters 1, 2, 3 Flashcards | Quizlet
The measure of how to random risk Covariance
variables will change in relationship to each
other; It's used to calculate the correlation
between varibales
The spread of the data set - or how far Variance
apart the numbers are in relation to the
mean (average)
Technique: A neutral party, who has no Facilitated Workshops
stake in the outcome or participation
responsibilities, administers the risk
workshop and propels the group to
achieve its goals
Can be used for a specific project or
process, as well as to identify those risks
that affect overall organizational objectives
-Technique: Uses the opinions of select Delphi Technique
group of experts to identify risks.
-Typically, these experts don't meet but
respond to a survey or inquiry instead
-Submits two rounds of queries to the
selected experts
-First, each expert responds to a question
and the combined answers, which remain
anonymous, are presented to the group
-The same question is then posed again to
the experts, who are instructed to consider
revising their responses based on the
results that were reported to the group
-This technique was originally used to
forecast new developments, such as
innovations in tech
-Cost-effective because it doesn't require the resources necessary to assemble a
facilitated workshop of experts
Benefits of Delphi Technique
-Keeping responses anonymous can eliminate group bias and encourage
participants to give honest answers
Disadvantage of Delphi Technique Experts opinions may be limited to their current thinking on a subject
Technique: Identifies risks and predicts the Scenario Analysis
potential consequences of those specific
risks
Benefit: Brings all of these concerns
together, so they can be addressed as a
whole
Disadvantage: The risk identification
process may be limited by the imagination
and brainstorming capabilities of the team
selected, which could lead to overlooking
key risks or consequences of risks
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