RAM Risk Management & Mitigation 3 — Questions and Answers
Question 1: In a fault tree analysis (FTA), what does an AND gate signify about the events connected to it?
- Any single input event causes the top event
- All input events must occur simultaneously for the top event to occur (Correct answer)
- The top event causes all input events
- Input events are mutually exclusive
Correct answer: All input events must occur simultaneously for the top event to occur
An AND gate in FTA requires all connected input events to occur concurrently for the output (top) event to result.
Question 2: Which type of redundancy uses identical components to increase system reliability?
- Functional redundancy
- Active parallel redundancy (Correct answer)
- Standby redundancy
- Diverse redundancy
Correct answer: Active parallel redundancy
Active parallel redundancy uses identical components operating simultaneously so any one can sustain function if others fail.
Question 3: A residual risk is best described as the risk that remains after:
- A risk assessment has been conducted
- Mitigation controls have been applied (Correct answer)
- The risk has been transferred to insurance
- The risk register has been updated
Correct answer: Mitigation controls have been applied
Residual risk is the level of risk that persists after all planned mitigation and control measures have been implemented.
Question 4: What does ALARP stand for in risk management?
- As Low As Reasonably Practical (Correct answer)
- Acceptable Limit for Allowable Risk Probability
- All Levels of Assessed Risk Priority
- Applied Limit of Actual Reduced Probability
Correct answer: As Low As Reasonably Practical
ALARP means risks should be reduced 'As Low As Reasonably Practicable,' balancing risk reduction benefits against cost and effort.
Question 5: In RAM risk management, a 'common cause failure' (CCF) occurs when:
- Two independent components fail at different times
- A single event causes multiple redundant components to fail simultaneously (Correct answer)
- A system is repaired incorrectly after a failure
- Maintenance activities cause a secondary failure
Correct answer: A single event causes multiple redundant components to fail simultaneously
CCF is a single root cause that defeats redundancy by causing multiple components to fail at the same time.
Question 6: Which quantitative risk analysis technique uses repeated random sampling to model the probability distribution of outcomes?
- Event tree analysis
- Monte Carlo simulation (Correct answer)
- Preliminary hazard analysis
- Bow-tie analysis
Correct answer: Monte Carlo simulation
Monte Carlo simulation runs thousands of random trials to generate a probability distribution of system outcomes.
Question 7: A risk owner in a project is responsible for:
- Identifying all risks in the project
- Monitoring and managing a specific assigned risk (Correct answer)
- Approving the project risk management plan
- Documenting lessons learned after risk events
Correct answer: Monitoring and managing a specific assigned risk
A risk owner is the individual accountable for monitoring, responding to, and reporting on a specific risk.
RAM Risk Management & Mitigation 3
In a fault tree analysis (FTA), what does an AND gate signify about the events connected to it?