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15 Cards in this Set

  • Front
  • Back
Techniques that identify current and future risks
Checklists
Interviews and Workshops
Escalation or Threshold Triggers
Process and Flow Analysis
Audits
Computer Software , e.g. RISKMASTER, RISK TRAK
Team Approach
What is the Holistic Approach to risk identification
A breakdown of silos
The use of quandrants to identify and categorize risks
The " Top Down" " Bottom Up "approach
Name the Team Approaches to Risk Identification
Facilitated Workshops
The Delphi Technique
Scenario Analysis
HAZOP
SWOT Analysis
What is a Risk Register
A tool used to identify and prioritize risks associated with a project, process, department or organization. It's a matrix to record the likelihood of a scenario and its associated risks
An organization risk register has these charecteristics
Adequately identifies the organization's risk

Prioritizes risk according to the potential effect on the organization

Provides interactive use for risk owners

Forms a matrix to manage risks
A Risk Map is...
A template depicting the liklihood and potential impact / consequences of risk
Optimum Risk is...
The level of risk that is within an organization's risk appetite
Name the four methods that allow an organization to take a systematic approach to identifying loss exposures
Document analysis

Compliance review

Inspections

Expertise within and beyond the organization
Balance Sheet
The financial statement tha reports the assets, liabilities, and owners equity of an organization as of a specific date
Income statement
The financial statement that report an organizations profit or loss for a specific period by comparing the revenues generated with the expenses incurred to produce those revenues
Statement of Cash Flows
The financial statement that summerarizes the cash effects of an organizations operating, investing and financing activities during a specific period
What is a " Hold Harmless" agreement
A contractual provision that obligates one of the parties to assume legal liability for anothe party
Ideminification is...
The process of restoring an individual or organization to a pre-loss financial condition
Hazard Analysis is...
A method of analysis that identifies conditions that increase the frequency or serverity of loss
Name the four quandrants of risk
Hazard

Operational

Financial

Strategic ///////// H.O.F.S.