TU Wien:Enterprise Risk Management Fundamentals VU (Schwaiger)/MC: Kaplan/Mikes

Risk controls are control activities for assuring that employees actually implement the specified risk treatments (false)

The generic ERM approach allows the integration of risk management into traditional management systems at the operational, financial and strategic level. (true)

Scenario planning is one possible tool for envisioning external risks. (true)

A confirmation bias drives the decision maker to suppress (favor) information that supports (contradicts) her own position (false)

Managing risks runs exactly counter to the “can do” culture most leadership try to foster when implementing strategy (true)

The relationship of the risk management function to business units is best established by embedded experts in the case of preventable risks. (false)

Robert Simons’ value and boundary related control systems can serve as first line of defense instruments for identifying and managing preventable risks. (true)