Quiz 7

A detailed infographic showing a risk management process with agile principles and Six Sigma imagery, bright colors, and modern design.

Risk Management Mastery Quiz

Test your knowledge on essential concepts in risk management, agile practices, and Six Sigma methodologies. This quiz covers a wide range of topics including the calculation of Risk Priority Number (RPN), agile principles, and Lean techniques.

Challenge yourself and learn:

Key aspects of risk management
Agile practices and principles
Six Sigma and Lean methodologies

36 Questions9 MinutesCreated by AssessingEagle521

Which are the three aspects used in the calculation of RPN?

Likelihood, prob. Of occurrence

Detectability

Severity, effect, magnitude

The following statements concern Risk Management: Contingency plans and controls are the same

True

False

The following statements concern Risk Management: Controls are implemented to increase RPNs

True

False

The following statements concern Risk Management: FMEA is a risk management tool that should be used proactively

True

False

The following statements concern Risk Management: There is no ISO standard for how to manage risks

True

False

The following statements concern Risk Management: Risks are perceived equally across different cultures

True

False

The following statements concern Risk Management: Availability bias can affect the way people perceive risks

True

False

The following statements concern Risk Management: It is s possible to assign a probability to a risk

True

False

The following statements concern Risk Management: Black-swan Events are easily predictable

True

False

The following statements concern Risk Management:Black-swan events are rationalized in hindsight

True

False

Action A: To sign house insurance with protection against losses by fire

Strat1: Do nothing

Strat2: Eliminat

Strat3: Transfer/share

Strat4: Reduce or mitigat

Action B: To blow out candles before leaving the flat

Strat1: Do nothing

Strat2: Eliminat

Strat3: Transfer/share

Strat4: Reduce or mitigat

Action C: To install fire alarms in the building

Strat1: Do nothing

Strat2: Eliminat

Strat3: Transfer/share

Strat4: Reduce or mitigat

Action D: To buy a fire extinguisher and fire blanket

Strat1: Do nothing

Strat2: Eliminat

Strat3: Transfer/share

Strat4: Reduce or mitigat

Action E: To save valuable things elsewhere (e.g., cloud, Bank)

Strat1: Do nothing

Strat2: Eliminat

Strat3: Transfer/share

Strat4: Reduce or mitigat

Below you will find four pairs of values. Chose for each pair, the value advocated in the Agile Manifesto.

The following statements concern agile practices. For each statement chose (T) True or (F) False. The focus of Agility is : To deliver few and large deliveries

True

False

The following statements concern agile practices. For each statement chose (T) True or (F) False. The focus of Agility is : To conduct several tasks simultaneously

True

False

The following statements concern agile practices. For each statement chose (T) True or (F) False. The focus of Agility is : To have teams organizing themselves

True

False

The following statements concern agile practices. For each statement chose (T) True or (F) False. The focus of Agility is : To test while developing

True

False

The following statements concern agile practices. For each statement chose (T) True or (F) False. The focus of Agility is : To visualize progress

True

False

The following statements concern agile practices.: SCRUM is common within software development

True

False

The following statements concern agile practices: It is possible to get SCRUM certified

True

False

The following statements concern agile practices: Sprints usually take from 1 to 5 workdays

True

False

The following statements concern agile practices: The product owner is part of the development team

True

False

The following statements concern agile practices: Daily SCRUMS are mainly for solving problems

True

False

The following statements refer to Six Sigma. Which statement is False?

Six Sigma has been very popular at GE and Motorola

Master Black Belt is the highest possible ASQ certification

The main focus of Six Sigma projects is to reduce waste

The following statements refer to Six Sigma. Which statement is False?

Six-Sigma process performance corresponds to a maximum of 3.4 dpmo

Six Sigma projects usually follow the DMAIC cycle

Three-sigma process performance gives fewer defects than six-sigma process performance

The following statements refer to Lean. Which statement is False?

Lean has its roots in Toyota Production System

Lean focus mainly on resource efficiency

Fire brigades have high flow efficiency

The following statements refer to Lean. Which statement is False?

Low-cost airlines rank high on flow efficiency

It is easier to achieve high flow efficiency when products are similar, and demand varies little C

Queues and waiting is a sign of low flow efficiency

Link each of the Improvement Programs to one of the foci 1-3,

e.g., TQM1 + SS2 + Lean3

TQM Six Sigma Lean

1: ↓waste, ↓ lead time, ↑ efficiency

2: ↓ defects, ↓ variation, save money

3: ↑ customer satisfaction, ↑ customer loyalty

Link each of the Improvement Programs to one of the foci 1-3,

e.g., TQM1 + SS2 + Lean3 TQM Six Sigma Lean

1: DMAIC
2: Analytical tools, e.g., VSM
3: PDCA

Link each of the Improvement Programs to one of the foci 1-3,

e.g., TQM1 + SS2 + Lean3 TQM Six Sigma Lean

1: It may be too philosophical, It lacks a clear roadmap, It may not
be profitable
2: It relies heavily on statistics, It does not involve everybody, It
may not increase customer satisfaction
3: It may reduce flexibility, It may cause congestion in the supply
chain, It may reduce employee satisfaction

Quiz 7

Risk Management Mastery Quiz

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