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What is Risk Breakdown Structure (RBS)? - ANSWERIs an hierarchical representation of risks, starting from higher levels and going down to finer level risks. What are the impacts that risks have on a project? - ANSWERUncertain events or sets of circumstances that, if they occur, would affect the project objectives. What is Planned Risk Responses? - ANSWERIs the process for developing options and actions to enhance opportunities, and to reduce threats to project objectives. What is Planne...

The tendency of people to view events as being more predictable than they really are is referred to as - ANSWERHindsight The ______ bias is demonstrated when managers add up all the money already spent on a project and conclude it is too costly to simply abandon it. . - ANSWERSunk- Cost Bob was unsure how his boss was going to react to his proposal, so he was careful to put an upbeat "spin" on the situation to emphasize the positive aspects rather than the negative aspects. Bob's metho...

benefits of ERM in anticipating and responding to risks - ANSWER1. anticipate and recognize emerging risks 2. identify and manage cross-enterprise risks 3. minimize threats to achieving organizational goals 4. enhance risk-response decisions different impediments to successful implementation of ERM - ANSWER1. technological deficiency - for ERM to succeed, people have to receive relevant information 2. the traditional organized culture with its entrenched silos - each different branch had ...

Hardware Store has been able to control its prices and inventory since it has no competitors. A new highway currently being constructed is going to allow increased competition for Hardware Store. According to the quadrants of risk, this risk of increased competition falls into the category of - ANSWERStrategic risk. Which one of the following is the inherent weakness of root cause analysis (RCA)? - ANSWERD. It can only look backward. Metadata contains - ANSWERA. Information about data as w...

What law authorized targeted case management? - ANSWERSection 1915 of Social Security Act It was implemented through... - ANSWERChapter 409, Florida Statutes and Chapter Caseload amount for recipients 17 or younger - ANSWER20 people or fewer per targeted case manager Caseload amount for recipients 18 and up - ANSWER40 people or fewer per targeted case manager Provider agency certification criteria for intensive case management team services - ANSWER-Be certified -Serve recipients wh...

A business model is a set of assumptions about the? - ANSWERway an organization creates value What two analytical tools are particularly useful in analyzing the business model? - ANSWERValue chain analysis and benchmarking Risk management professionals conduct supply-chain analyses to identify? - ANSWERpotential vulnerabilities to the organization Which activity does the risk management professional perform immediately after obtaining internal and external information about the organiza...

Benchmarking - ANSWERThe process of measuring the performance of an organization against external standards of reference that frequently come from similar organizations doing similar things. Corporate governance - ANSWERThe system of rules, practices and processes by which a company is directed and controlled Enterprise risk management - ANSWERA strategic discipline that supports the achievement of an organization's objectives by addressing the full spectrum of its risk and managing the c...

Risks - ANSWERThe 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 - ANSWERA 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 Funct...

Benchmarking - ANSWERThe process of measuring the performance of an organization against external standards of reference that frequently come from similar organizations doing similar things. Corporate Governance - ANSWERThe system of rules, practices and processes by which a company is directed and controlled. Enterprise Risk Management - ANSWERA strategic discipline that supports the achievement of an organization's objectives by addressing the full spectrum of its risk and managing the ...