21984926
Description
Quiz by Prof. Ruppert, updated more than 1 year ago
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Created by Prof. Ruppert
almost 5 years ago
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Question 1
Question
Risk diversification is an important strategy to handle risks: Can you fill in the right terms?
Answer
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shift
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avoid
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endure
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reduce
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endure
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avoid
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shift
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reduce
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competitive
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compensation
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cooperative
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internal
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insurance
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inacceptable
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enhance
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endure
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extrapolate
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reinforcements
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recalls
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reserves
Question 2
Question
We divide risk measurement into "quantitative" and "qualitative" methods. Can you fill in the right terms?
Answer
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minimum loss
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maximum loss
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variation of loss
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value at risk
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estimation
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quick and dirty
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scoring model
Question 3
Question
FMEA is a risk management method in the product development process. Can you define it?
Answer
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FMEA := Falsification Method in Engineering Analytics
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FMEA := Failure Method in Engineering Analysis
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FMEA := Failure Mode and Effect Analysis
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FMEA := Failure Method and Effect Analytics
Question 4
Question
Within the FMEA method, the calculation and evaluation of the RPN (Risk Priority Number) is crucial. Are you able to check if the following statements are true (or false)?
Answer
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RPN helps the responsible risk management team to prioritize risks.
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RPN is calculated by multiplying Severity (S), Occurrence (O), and Detection (D).
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Severity (S): A high severity ranking indicates severe risk.
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Occurrence (O): A low occurrence rank reflects high failure occurrence potential.
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Detection (D): A high detection rank reflects high detection capability.
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Detection (D): A high detection rank reflects low detection capability.
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Occurrence (O): A high occurrence rank reflects high failure occurrence potential.
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Severity (S): A low severity ranking indicates severe risk.
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The maximum value of RPN is 10x10x10 = 1000.
Question 5
Question
Let's bring risk management to the context of strategical procurement. Can you fill in the missing text?
Answer
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complexity
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globalization
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volume
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politics & laws
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