CLL Risk Assessment & Management 3 — Questions and Answers
Question 1: A risk register is most useful for which of the following purposes?
- Tracking financial transactions related to lean projects
- Centrally documenting identified risks, their ratings, owners, and mitigation actions (Correct answer)
- Scheduling kaizen event calendars
- Recording defect counts from the production floor
Correct 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.
Question 2: When using a risk matrix, which combination represents the highest priority for immediate action?
- Low likelihood, low impact
- High likelihood, low impact
- Low likelihood, high impact
- High likelihood, high impact (Correct answer)
Correct 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.
Question 3: Which Lean principle directly supports risk reduction by making abnormalities immediately visible?
- Just-in-time delivery
- Visual management (andon systems) (Correct answer)
- Batch production smoothing
- Activity-based costing
Correct answer: Visual management (andon systems)
Visual management systems like andon boards surface deviations from standard in real time, enabling fast response before risks escalate.
Question 4: A Lean leader notices that corrective actions from risk events are repeatedly not sustained. Which tool best addresses this root cause?
- A revised FMEA severity rating
- Standardized work integrated with the corrective action (Correct answer)
- A new risk transfer agreement
- Increasing the detection rating in the control plan
Correct 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.
Question 5: In Lean risk management, what does 'residual risk' refer to?
- Risk that has been fully eliminated through mitigation
- The risk remaining after all mitigation actions have been applied (Correct answer)
- Risk identified after a project has closed
- The financial cost of a risk event
Correct 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.
Question 6: Which of the following is a leading indicator of risk in a lean production environment?
- Scrap rate for the previous month
- Number of near-miss incidents reported (Correct answer)
- Customer complaint count for last quarter
- Total defects shipped to customers
Correct 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.
Question 7: A team wants to prioritize which risks to address first in a complex value stream. Which approach is most systematic?
- Address risks alphabetically by process step name
- Use RPN scores from FMEA to rank failure modes by combined risk level (Correct answer)
- Focus only on risks raised by senior management
- Fix the fastest and cheapest risks regardless of severity
Correct 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.
CLL Risk Assessment & Management 3
A risk register is most useful for which of the following purposes?