Homework Answers
Brainstorming technique involves a group of people, usually between five and ten, who are sitting in a meeting room to create ideas and innovation to solve a particular problem. The main agenda is on creation of ideas where as Delphi technique is the modified version of the brainstorming technique. The difference isthat it involves concentrating on the opinions of expertswho are physically separated from each other and they do not know each other.
A major disadvantage of Delphi technique is that it is very time consuming and complex as compared to brainstorming
A typical risk register contains:
- Category of risk to group similar risks
- Description of risk
- Impact of the risk
- Chances or odds of the risk occurrence
- Risk Score or Risk Rating
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4. What is the difference between using brainstorming and the Delphi technique for risk identi- fication?...
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The answers to all 10 questions. REVIEW QUESTIONS 1. What is the meaning of risk management?...
The answers to all 10 questions.
REVIEW QUESTIONS 1. What is the meaning of risk management? 2. Explain the objectives of risk management both before and after a loss occurs. 3. Describe the steps in the risk management process. 4. a. Identify the sources of information that a risk manager can use to identify loss exposures. b. What is the difference between the maximum pos- sible loss and probable maximum loss? 5. a. Explain the meaning of risk control. b....
at the project kickoff meeting, a team member asks what is the difference between the risk...
at the project kickoff meeting, a team member asks what is the difference between the risk management plan and the risk register. You tell them:
answers to #4, 7, 8 & 10 4. a. Identify the sources of information that a...
answers to #4, 7, 8 & 10
4. a. Identify the sources of information that a risk manager can use to identify loss exposures. b. What is the difference between the maximum pos- sible loss and probable maximum loss? 7. What conditions should be fulfilled before retention is used in a risk management program? 8. a. What is a captive insurer? b. Explain the advantages of a captive insurer in a risk management program 10. a. Explain the advantages of...
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The answers to all 10 questions.
REVIEW QUESTIONS 1. What is the meaning of risk management? 2. Explain the objectives of risk management both before and after a loss occurs. 3. Describe the steps in the risk management process. 4. a. Identify the sources of information that a risk manager can use to identify loss exposures. b. What is the difference between the maximum pos- sible loss and probable maximum loss? 5. a. Explain the meaning of risk control. b....
answers to #4, 7, 8 & 10
4. a. Identify the sources of information that a risk manager can use to identify loss exposures. b. What is the difference between the maximum pos- sible loss and probable maximum loss? 7. What conditions should be fulfilled before retention is used in a risk management program? 8. a. What is a captive insurer? b. Explain the advantages of a captive insurer in a risk management program 10. a. Explain the advantages of...
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