Crowdly

On the company website

In an annual financial report

In a standard template recording the findings

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What outcome is expected from identifying deviations in a HAZOP study?

New product ideas

Investment strategies

Employee promotion criteria

Potential hazards and operability issues

What is a crucial step in preparing for a HAZOP study?

Organising team-building activities

Preparing Process and Instrumentation Diagrams (P&IDs)

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Conducting a marketing analysis

Reviewing financial statements

In environmental engineering, what represents a low likelihood, low consequence risk in soil remediation projects?

Minor variances in soil pH levels during treatment.

Discovery of a previously unknown hazardous waste site.

A sudden release of contaminants during excavation.

Weather delays that slightly extend the project timeline.

In software engineering, which of the following would represent a high likelihood and high consequence risk?

A critical security flaw that could allow data breaches affecting millions of users.

A minor bug that causes a slight inconvenience to a small number of users.

An infrequent software crash that results in temporary downtime.

A cosmetic issue in the user interface that does not affect functionality.

In environmental engineering, what is a low likelihood, high consequence risk for coastal regions?

Algal blooms in a closed bay area.

An oil spill near a sensitive marine ecosystem.

Regular beach erosion.

Tourist litter during peak seasons.

Which of the following is not a part of the systematic approach to risk management?

Identifying hazards

Controlling risks

Analysing financial statements

Analysing & evaluating risks

In risk management, what does 'ALARP' signify in terms of risk reduction?

Transferring all risks to third parties

Accepting all risks without mitigation

Eliminating all risks regardless of cost

Reducing risks to a level that is As Low As Reasonably Practicable

100%✨

Why is 'monitoring and review' essential in risk management?

To ensure that marketing strategies are effective

To continually assess the risk environment and the effectiveness of control measures

To review and update the company's website

To monitor employee attendance and productivity

What does a 'risk matrix' help to determine?

The number of hazards present in a facility

The severity of consequences and the frequency of risks

The exact time an incident will occur

The financial costs of potential risks