AE 5 Q5

Anything that could harm, prevent, delay or enhance your ability to achieve your

objectives.

• Risk

• Problem

• Ethics

• Control

It is the process of measuring or assessing risk and developing

strategies to manage it.

• Corporate governance

• Ethics

• Risk management

• Internal control

It is a systematic approach in identifying, analyzing and controlling

areas or events with a potential for causing unwanted change.

• Corporate governance

• Business ethics

• Risk management

• Internal control

Risk can be a threat or an __________________.

• Danger

• Lesson

• Challenge

• Opportunity

Risk management is the identification, assessment and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor and control the probability or impact of unfortunate events and to maximize the realization of opportunity.

• ISO 31000 Definition

• ISO 31001 Definition

• ISO 31002 Definition

• ISO 31003 Definition

A source of risk caused by an unfortunate incident that happens unexpectedly and unintentionally typically resulting in damage or injury.

• Project failures

• Legal liabilities

• Accidents

• Debts

A source of risk caused by a sudden event, such as accident or natural catastrophe, that causes great damage or loss of life

• Accident

• Disaster

• Fortuitous event

• Bad debts

A source of risk caused by the possibility of losing a lender holds due to a risk of default on a debt that may arise from a borrower failing to make required payments

• Legal liabilities

• Credit risks

• Fortuitous events

• Project failures

A source of risk caused by an event that could not have been reasonably foreseen or expected but inevitable.

• Fortuitous event

• Accidents

• Disasters

• Credit risks

A source of risk when a project was not delivered when it was required in line with the expectations.

• Project delay

• Project success

• Project satisfaction

• Project failure