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Questions and Answers
What is the formula to calculate the risk of an event?
What is the formula to calculate the risk of an event?
What is the severity of the catastrophic destruction of the manufacturing plant?
What is the severity of the catastrophic destruction of the manufacturing plant?
What is the probability of the plant being catastrophically destroyed each year?
What is the probability of the plant being catastrophically destroyed each year?
Which of the following is NOT a common trigger for workplace violence?
Which of the following is NOT a common trigger for workplace violence?
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What is the annual cost of the risk to the plant due to the process malfunction?
What is the annual cost of the risk to the plant due to the process malfunction?
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Which of the following situations is LEAST likely to lead to a workplace violence incident?
Which of the following situations is LEAST likely to lead to a workplace violence incident?
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Study Notes
Risk Calculation
- The annual cost of risk is calculated by multiplying the probability of an event by its severity.
- In this case, the probability of the plant being catastrophically destroyed is 1 in a million (0.000001).
- The severity of the event is $2 billion, or $2,000,000,000.
- The annual cost of the risk is $2,000 (0.000001 x $2,000,000,000).
Workplace Violence Triggers
- Common triggers of workplace violence incidents include:
- Disputes with co-workers and/or customers
- Personal financial issues
- Company layoffs
- Unfavorable performance reviews
- Perceived "unfairness"
- Substance abuse
- Personal problems
- Emotional problems
- Substance abuse and conflicts with co-workers are most likely to lead to a workplace violence incident.
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Description
This quiz calculates the annual cost of risk due to a process malfunction in a manufacturing plant, using probability and severity values.
