Study 4 Risk Management with 12 free online flashcards. Review key terms, definitions, and concepts with this interactive flashcard deck.
What is risk management?
Risk management coordinates the identification, assessment, treatment, and monitoring of uncertainty that may affect organizational objectives; it belongs in governance, strategy, planning, and daily operations.
How should a risk be clearly described?
Describe a risk by linking its cause (uncertainty source), event (what might happen), and consequence (effect on an objective).
What characterizes operational risks?
Operational risks arise while delivering products or services, such as equipment failure, fraud, process errors, or staff shortages.
What two dimensions are estimated when assessing a risk?
Estimate how likely each risk is and how significantly it could affect objectives, using criteria suited to the organization.
What does risk appetite mean?
Risk appetite is the type and level of risk an organization is willing to accept while pursuing its objectives.
How do inherent risk and residual risk differ?
Inherent risk is exposure before controls; residual risk is the exposure that remains after controls.
What are five common responses to risk?
Common responses are avoid, reduce, share, accept, or pursue risk to capture an opportunity, using appropriate safeguards.
What should a risk treatment plan specify?
A treatment plan specifies the action, accountable owner, resources, due date, expected effect, and how progress will be checked.
What should ongoing risk monitoring check?
Monitor whether controls work, actions are completed, and likelihood, impact, or exposure is changing.
When should risks be reviewed and reassessed?
Review risks regularly and after important events, such as a strategy change, new regulation, control failure, or significant market shift; update assessments and escalate exposures beyond authority or appetite.
How are risk responsibilities divided between activity owners and senior leaders?
Those responsible for an activity generally own its risks and day-to-day controls. Senior leaders and governing bodies set direction, clarify responsibilities, define appetite, and oversee significant exposures.
What characterizes strategic risks?
Strategic risks may affect an organization’s direction or long-term success, such as a new competitor, changing customer needs, or a major technology shift.
A medium-difficulty quiz on the RBT role, behavior-analytic concepts, supervision, and professional practice.
Learn the RBT’s supervised role, core behavior-analytic concepts, and professional responsibilities for delivering services safely and ethically.
A medium-difficulty quiz on defining behavior, selecting and applying measurement procedures, and interpreting behavior data.
Learn how to define observable behavior, select and apply measurement procedures, calculate basic outcomes, and interpret data with appropriate context.
Learn how RBTs prepare for and implement written skill-acquisition plans, including teaching formats, prompting, reinforcement, measurement, generalization, and maintenance.
Review the functions of behavior, common behavior-reduction procedures, and the RBT’s responsibilities for safe and authorized implementation.
A medium-difficulty quiz on applying behavior-reduction procedures, distinguishing reinforcement and punishment concepts, and following an RBT’s implementation and safety responsibilities.
Review accurate session notes, truthful records, timely reporting, incident response, and client-information privacy for RBT practice.
A medium-difficulty quiz on objective documentation, accurate records, reporting responsibilities, and client privacy in RBT practice.
Learn how RBTs document sessions and services accurately, report changes and incidents promptly, and protect client information.
Review ethical RBT practice, including client dignity and privacy, professional boundaries, cultural responsiveness, and the importance of working within competence and seeking supervision.
An application-focused review of integrated RBT practice, including measurement, assessment, teaching, safety, documentation, and professional ethics.