Quiz #1 ISO 31000 – Principles – International Management System Institute

Choose the key elements of the 'Design' of a risk management method *

Allocating resources

Having a 'Risk Department'

Understanding your organization and its context

Assigning organizational roles & responsibilities

The 'Integrated' Principle… *

Risk principles must be integrated by means of a complicated documented policy

Risk management needs to be an integral part of all organizational activities.

Principles are only ideas – they are not strong enough to help reduce risk

Integration must be done by front line management

'Principles' create value and help protect your organization *

True

False

What helps an organization Improve its 'Risk Management System'? *

Better documented procedures

Adapting to changing conditions that affect risk

Bigger penalties for people who ignore risks

Continually improving the Risk Management System

A Risk Management System must be dynamic because… *

An organization's situation is constantly changing

Risks can appear or emerge any time

Risks can emerge or disappear at any time

You want make changes to keep your employees on their toes

MSP Course #3 - ISO 31000:2018 - Risk Management