Ultimate access to all questions.
Explanation:
Root Cause Analysis (RCA) is a systematic process used in operational risk management to investigate and identify the fundamental or underlying causes of a significant operational risk event or near-miss. While the wording in option A specifies 'immediate cause' (which contrasts with the 'root' or underlying cause in strict definitions), it is the only option that correctly aligns RCA with its primary function of investigating the causes behind a specific significant operational risk event.
No comments yet.
Q.27 Which of the following statements best describes the purpose of Root Cause Analysis?
A
To identify an immediate cause of a significant operational risk event.
B
To compare the results of multiple investigations and identify patterns leading to operational risk events.
C
To evaluate the impact of a near miss or incident on operational performance.
D
To support or challenge the initiatives proposed by the second line of defense.