Organizational Crisis Management Quiz

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to Lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What does 'risk sharing or transfer' involve?

  • Accepting risks without taking any action
  • Applying controls and processes
  • Monitoring key performance indicators
  • Contracting with a third party to bear some or all costs of a risk (correct)

When is a risk accepted according to the text?

  • When risks are shared with a third party
  • When monitoring key performance indicators
  • When risks fall within the organization's risk appetite and tolerance (correct)
  • When controls are working as intended

What is the purpose of risk management according to the text?

  • To identify potential problems after they occur
  • To leverage opportunities after they occur
  • To only apply controls and processes
  • To identify potential problems before they occur (correct)

What is emphasized in the text about mitigating risks?

<p>It is less costly to prevent risks from triggering rather than dealing with them after they trigger (C)</p> Signup and view all the answers

What activities are involved in the 'Monitoring and review' step of risk management?

<p>Measuring key performance indicators and looking for key risk indicators (D)</p> Signup and view all the answers

Which phase of a project is risk management considered important according to the text?

<p>Initiation phase (B)</p> Signup and view all the answers

'Risk treatment' in the context of risk management involves:

<p>Applying agreed-upon controls and processes (A)</p> Signup and view all the answers

'Crisis management' deals with:

<p>Handling an event that occurs at a specific point in time (A)</p> Signup and view all the answers

What should monitoring activities in risk management focus on?

<p>Measuring key performance indicators and looking for key risk indicators (B)</p> Signup and view all the answers

How does the text suggest dealing with risks to prevent failure?

<p>Proactively mitigating risks before they trigger (D)</p> Signup and view all the answers

Flashcards are hidden until you start studying

More Like This

Use Quizgecko on...
Browser
Open
Browser
Browser