ISO-31000-CLA GAQM Exam Lab Questions

According to , page 13-14, probability multiplied by impact equals risk magnitude which is “a measure that reflects both likelihood and consequences”. It can be used as an indicator for prioritizing risks.

Risk management ensures that value is created by identifying opportunities for investment, mergers, or acquisition. Risk management helps to assess the potential benefits, costs, and risks of different options and make informed decisions.

Risk assessment teams are composed of cross functional subject matter experts, risk experts, and process owners. Risk assessment teams conduct risk assessments for specific areas or projects within the organization.

According to , page 9, defining the context involves “understanding what influences people’s perception and tolerance of risks”. Discussing how girls are viewed by community members can help identify potential sources of resistance, conflict or violence that may affect the project’s objectives and outcomes.