Program Organization Exam Practice

Risk Tolerance:: The act or capacity of enduring a specific risk

Risk Perception:: the subjective judgement that people make about the characteristics and severity of risk

Risk assessment:: Quantifying the risk associated with a hazard

Risk management:: evaluating whether real or perceived risks are acceptable, and if not, addressing them

What is risk (1st):: possibility of loss or injury: Peril

What is risk (2nd) :: someone or something that creates or suggests a hazard

Why do we take risks?:: exciting, fun, making money, bolster our reputation, your brain likes to win

Risk taking:: assessment of risk may be inaccurate, Risk proneness bias

Risk Proneness Bias:: the propensity to be attracted to potentially risky activities

How is risk measured?:: Risk = likelihood x consequences

MEAT risk mitigation:: Mitigate, Eliminate, Acceptance, Tolerance.

Risk perception: an individual’s awareness of the likelihood of loss or injury

Risk Tolerance: the amount of risk an individual is willing to accept in pursuit of the desired goal.

Seeding: process of ranking players/teams according to their ability relative to other entries

Handicapping: equalization of competitions between opponents of unequal ability

Budget: the amount of risk an individual is willing to accept in pursuit of the desired goal.

Budgeting: the amount of risk an individual is willing to accept in pursuit of the desired goal.

Revenue: money that is brought into the program

Expenses: money that is spent

Balanced Budget: revenue and expenses balance each other

Deficit Budget: expenses are greater than revenue

Surplus Budget: revenue is greater than expenses

Direct Expenses: the expenses a business incurs directly to make a product or service. ex. staff

Indirect Expenses: expenses that are not directly related to making a product or service. ex. promotional material

Direct Fundraising: Involves solicitation of potential donors to provide cash gifts, often little more than recognition offered in return for support

Indirect fundraising: involves the selling of goods/services for financial gain

Principles of successful fundraising: the cause, leadership, volunteers, good public relations

Stanley cup Value (NHL): $650 000

Superbowl (NFL) Value: $50 000

FA Cup (football/soccer) Value: $1 000 000

Borg-Warner trophy Value (IndyCar): Bullion Value - $25 000, Value - 1 300 000

Goal of Rowan’s Law: protect amateur competitive athletes by reducing their risk of getting a concussion.

Second Impact Syndrome (SIS):

Program: a set of resources and activities directed toward one or more common goals, typically under the direction of a single manager or management team.

Logic Model: a graphic depiction (road map) that presents the shared relationships among the resources, activities, outputs, outcomes, and impact for your program.