Risk Assessment & Management Flashcards
7 cards from real CLL practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Risk Assessment & Management flashcards as text
A risk register is most useful for which of the following purposes?
Answer: Centrally documenting identified risks, their ratings, owners, and mitigation actions
A risk register is a living document that consolidates all identified risks with their assessments, owners, and response plans in one place.
When using a risk matrix, which combination represents the highest priority for immediate action?
Answer: High likelihood, high impact
Risks with both high likelihood and high impact fall in the red zone of a risk matrix and require the most urgent mitigation.
Which Lean principle directly supports risk reduction by making abnormalities immediately visible?
Answer: Visual management (andon systems)
Visual management systems like andon boards surface deviations from standard in real time, enabling fast response before risks escalate.
A Lean leader notices that corrective actions from risk events are repeatedly not sustained. Which tool best addresses this root cause?
Answer: Standardized work integrated with the corrective action
Embedding corrective actions into standardized work ensures the fix is part of the routine process rather than depending on memory or individual behavior.
In Lean risk management, what does 'residual risk' refer to?
Answer: The risk remaining after all mitigation actions have been applied
Residual risk is the level of risk that still exists after all planned risk controls and mitigations are in place.
Which of the following is a leading indicator of risk in a lean production environment?
Answer: Number of near-miss incidents reported
Near-miss incidents reveal that a process came close to failure, providing an early warning before an actual defect or safety event occurs.
A team wants to prioritize which risks to address first in a complex value stream. Which approach is most systematic?
Answer: Use RPN scores from FMEA to rank failure modes by combined risk level
RPN scoring from FMEA provides an objective, data-driven ranking of failure modes so the team addresses the highest combined risk first.