Risk Management Flashcards

(5 cards)

0
Q

Diagramming techniques to identify risks

A

Fishbone
Flow chart
Cause and effect diagram
Draw them.

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1
Q

Steps to risk management

A
  1. Risk identification
  2. Risk assessment
  3. Risk response development
  4. Risk response control
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2
Q

What is a risk matrix

A
Likelihood and impact axes 
There are three zones: 
Red major risk 
Yellow moderate risk
Green minor risk
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3
Q

Three techniques for mitigating risk

A

Transferring risk
Sharing risk
Retaining risk (acceptance)

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4
Q

SMART goals

A
Specific
Measurable 
Assignable 
Realistic
Time related
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