Risk 101 (Global)
The process of identifying, analyzing and controlling or minimizing threats
What is Risk Management
This step takes into account the organization’s overarching goals and objectives, ideally through conversations with management and leadership
Risk Identification
This Category of risk thresholds what acceptable tolerance, and the organization chooses to accept this risk.
Risk Acceptance:
This Council serves to facilitate and promote wildland firefighter safety.
Forest Service Fire Operations Risk Management Council
A 2012 poll by Britain’s national army museum voted this man, born in 1732, as the nation’s greatest military enemy.
George Washington
Risks that could have a potential impact on an organization’s objectives
What is Strategic Risk
Analyzing risks, or assessing risks, involves looking at the likelihood that a risk will be realized, and the potential impact that risk would have on the organization if that risk were realized.
Risk Analysis or Assessment
When the organization chooses to _____ the risk or part of the risk to a third party provider or insurance company.
Risk Transfer
This program exists to help managers and employees identify and communicate value and objectives, identify risks, evaluate how to mitigate them to the lowest practicable level, and then decide if the value or attempting to achieve the objectives is worth accepting the residual risks.
The Forest Service risk management program
He was featured on the September 22, 1947 cover of Time with the caption “He and the boss took a chance.”
Jackie Robinson
Risks that materialize from regulatory and compliance requirements that organziations are subject to.
What is Compliance Risk
Once risks have been identified and analyzed, controls that address or partially address those risks should be mapped.
Controls Assessment and Implementation
When the organization chooses not to move forward with that risk and avoids incurring it.
Risk Avoidance
______ seeks to reduce risks to acceptable levels.
Risk Management
Subtract a letter from the name of a keystroke found in computer commands and you get this violent reaction to social change.
Backlash
This form of Risk, has the potential to disrupt daily operations involved with running an Organization.
What is Operational Risk?
This step of risk management involves both coming up with the action plan for handling open risks, and then executing on that action plan.
Risk Mitigation
The organization establishes an action plan for reducing or limiting risk to acceptable levels.
Risk Mitigation
In what year was the CCC founded?
What is 1933
This country’s coat of arms features a palm tree and a 19th century American sailing ship.
Liberia
These risks look at a company’s standing in the public and in the media and identify what could impact its reputation.
What is Reputational Risk
This last step in the risk management lifecycle is monitoring risks, reviewing the organization’s risk posture, and reporting on risk management activities.
Risk Monitoring, Reviewing, and Reporting
In 1937 his sister said he had “hats of every description,” which he would use as a “foundation of his next book.”
Dr. Seuss.
risk management process operates on four connected and affiliated levels:
enterprise, strategic, deliberate (operational), and real-time (time-critical).
This machine was invented in 1929; the government began buying them to help prevent any more in a series of Army Air Corps fatalities.
The flight simulator.