Risk Analysis Flashcards
7 cards from real CPHRM 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 Analysis flashcards as text
Which quantitative technique assigns probability distributions to uncertain variables to model the range of possible outcomes in a risk assessment?
Answer: Monte Carlo simulation
Monte Carlo simulation runs thousands of iterations with randomly sampled inputs to produce a probability distribution of outcomes.
A hospital's risk manager is evaluating a clinical process with multiple sequential steps, each with its own failure probability. Which method is BEST suited to calculate the probability that the entire process fails?
Answer: Fault tree analysis
Fault tree analysis uses Boolean logic gates to model how combinations of individual failures lead to a top-level undesired event.
In risk analysis, 'residual risk' refers to:
Answer: Risk remaining after controls are applied
Residual risk is the level of risk that remains after all implemented risk controls have been applied and accepted.
Which of the following BEST describes the purpose of a risk register in healthcare risk management?
Answer: To centralize identified risks, their ratings, and assigned owners
A risk register is a living document that catalogues identified risks, their likelihood and impact scores, mitigation actions, and accountability assignments.
When analyzing risk severity, which dimension is PRIMARILY concerned with how quickly a hazardous situation can cause harm if not detected?
Answer: Detectability
Detectability measures how easily a failure or hazard can be identified before it causes harm, influencing the urgency of controls.
A risk manager observes that medication errors cluster around shift-change handoffs. Which analytical approach is MOST useful for uncovering the systemic root causes?
Answer: Fishbone (Ishikawa) diagram
Fishbone diagrams organize potential causes into categories (people, process, equipment, environment) to systematically identify root causes.
The 'likelihood' component in a traditional 5×5 risk matrix is BEST defined as:
Answer: The estimated probability or frequency of the risk occurring
Likelihood (or probability) represents how often or how probable it is that a given risk event will occur within a defined timeframe.