Risk Assessment Is

question 59

Multiple Choice

Risk assessment is:

• A)the process of scanning the organisation for risks that could inhibit the attainment of the organisation's goals.
• B)the process of scanning the organisation and its environment for risks that could inhibit the attainment of the organisation's goals.
• C)the process of scanning the organisation for risks that could inhibit the attainment of the organisation's goals and devising appropriate corrections.
• D)the process of scanning the organisation and its environment for risks that could inhibit the attainment of the organisation's goals and devising appropriate corrections.

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Definitions:

Move Time

The duration it takes to transfer materials or products from one phase of production to another.

Non-value-added Time

Time spent during the production process that does not directly contribute to the final value or quality of the product.

Return On Investment

A performance measure used to evaluate the efficiency or profitability of an investment, calculated by dividing the net profit from the investment by its cost.

Performance Measure

A quantitative indicator used to evaluate the effectiveness or success of an organization, employee, or process in achieving objectives.