MODULE Risk Management Framework and Measuring
\nINTAKE January 2023
\nYEAR One (1)
\nTOTAL MARKS 100
\nFORMATIVE ASSESSMENT 2 [100 Marks]
\nSelect an organisation of your choice and analyse the business from a Risk and Risk Management perspective. Assuming
\nthat you are the Risk Management Consultant answer the questions below.
\nAnswer ALL the questions in this section.
\nQuestion 1 (20 Marks)
\nName the selected organisation and describe the organisation in terms of the following:
\nNature of the business (1)
\nBusiness maturity (1)
\nHow does the organisation operate and what is its
\ncompetitive strategy? (3)
\nDoes the organisation have a risk and risk
\nmanagement strategy and explain why? (5)
\nCategories of risks it faces and give examples (10)
\nQuestion 2 (20 Marks)
\nDiscuss the Risk Management Framework for this organisation if they have or propose a Risk Management Framework for
\nthis organisation if they do not have one?
\nStudent may tabulate your response.
\nResponse must be less than 2 pages
\nQuestion 3
\nStudents must tabulate their responses and must be less than 2 pages.
\nPropose and discuss an appropriate risk classification system for the organisation to identify
\npertinent risk facing the organisation?
\n3.1 (10 marks)
\nIdentify the organisation\u2019s objectives, stakeholder expectations & key dependencies using an
\nappropriate risk identification structure?
\n3.2 (10 marks)
\nQuestion 4
\nStudents must tabulate their responses and must be less than 2 pages.
\nIdentify at least 5 risks, classify them and plot them on an appropriate risk matrix. (10 marks)
\nPlease list the following for each risk:
\n4.1
\n1. Risk ID
\n2. Risk Category
\n3. Risk description
\n4. Risk Cause
\n5. Risk Impact
\nPropose and discuss the most appropriate risk response for each risk identified? (10 marks)
\nStudents must tabulate their responses and must be less than 2 pages.
\n4.2
\nQuestion 5
\nJustify your responses and response must be less than 2 pages
\nEstablish the risk appetite of the selected organisation and present the relevant risk appetite
\nmatrix?
\n(10 marks)
\nJustify your responses
\n5.1
\nDetermine if the selected organisation will benefit from an Enterprise Risk Management system? (10 marks)
\nJustify your responses and response must be less than 2 pages
\n5.2<\/p>\n
_______________<\/p>\n
Question 1:<\/p>\n
Name of the selected organization: [Organization Name]
\nDescription:<\/p>\n
Nature of the business: Briefly describe the industry or sector in which the organization operates.
\nBusiness maturity: Assess whether the organization is a startup, established, or mature organization.
\nHow does the organization operate and what is its competitive strategy?<\/p>\n
Describe the organization’s operational model, including its core processes, value chain, and business model.
\nExplain the competitive strategy employed by the organization, such as cost leadership, differentiation, or focus.
\nDoes the organization have a risk and risk management strategy, and explain why?<\/p>\n
Assess whether the organization has a formal risk management strategy in place.
\nExplain the importance and benefits of having a risk management strategy.
\nCategories of risks faced by the organization and examples:<\/p>\n
Identify the major categories of risks that the organization faces, such as strategic, operational, financial, compliance, or reputational risks.
\nProvide specific examples of risks within each category, relevant to the organization’s industry or sector.
\nQuestion 2:
\nDiscuss the Risk Management Framework for the organization, or propose one if it does not have an existing framework. You can present your response in a tabulated format, considering the following elements of a risk management framework:<\/p>\n
Risk Identification: Describe the process or methods used to identify risks within the organization.
\nRisk Assessment: Explain how risks are assessed and evaluated, including the criteria used and the tools or techniques applied.
\nRisk Treatment: Discuss the strategies or measures employed to mitigate, transfer, or accept risks.
\nRisk Monitoring and Reporting: Describe the processes for ongoing monitoring, measurement, and reporting of risks.
\nRisk Governance: Discuss the roles, responsibilities, and accountability of key stakeholders involved in the risk management process.
\nIntegration and Review: Explain how the risk management framework is integrated into the organization’s overall management processes and how it is regularly reviewed and updated.
\nQuestion 3:
\n3.1 Propose and discuss an appropriate risk classification system for the organization:<\/p>\n
Identify and describe an appropriate risk classification system, such as a qualitative or quantitative approach.
\nExplain how the classification system helps in identifying and categorizing pertinent risks.
\nAlign the risk classification system with the organization’s specific objectives, stakeholder expectations, and key dependencies.
\n3.2 Identify the organization’s objectives, stakeholder expectations, and key dependencies using an appropriate risk identification structure:<\/p>\n
List the organization’s objectives, considering financial, operational, strategic, and other relevant goals.
\nIdentify key stakeholders and their expectations from the organization.
\nIdentify critical dependencies or interdependencies that the organization relies upon for its success.
\nQuestion 4:
\nIdentify at least five risks, classify them, and plot them on an appropriate risk matrix:
\n4.1 Risk ID, Risk Category, Risk Description, Risk Cause, Risk Impact:<\/p>\n
Create a table with columns for Risk ID, Risk Category, Risk Description, Risk Cause, and Risk Impact.
\nIdentify five specific risks faced by the organization and provide relevant details in each column.
\nPropose and discuss the most appropriate risk response for each risk identified:<\/p>\n
Evaluate each identified risk and propose a suitable risk response strategy.
\nDiscuss the rationale behind each proposed risk response and how it aligns with the organization’s risk appetite and objectives.
\nQuestion 5:<\/p>\n","protected":false},"excerpt":{"rendered":"
MODULE Risk Management Framework and Measuring INTAKE January 2023 YEAR One (1) TOTAL MARKS 100 FORMATIVE ASSESSMENT 2 [100 Marks] Select an organisation of your choice and analyse […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pagelayer_contact_templates":[],"_pagelayer_content":"","footnotes":""},"categories":[69],"tags":[70,78,75,73],"class_list":["post-2415","post","type-post","status-publish","format-standard","hentry","category-website-that-writes-assignments","tag-assignment-help-by-uks-no-1-writing-service","tag-homework-help-services-best-websites","tag-do-my-university-assignment-for-me","tag-dissertation-assignment-help-uae"],"_links":{"self":[{"href":"https:\/\/www.homeworkacetutors.com\/acemyhomework\/wp-json\/wp\/v2\/posts\/2415","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.homeworkacetutors.com\/acemyhomework\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.homeworkacetutors.com\/acemyhomework\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.homeworkacetutors.com\/acemyhomework\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.homeworkacetutors.com\/acemyhomework\/wp-json\/wp\/v2\/comments?post=2415"}],"version-history":[{"count":0,"href":"https:\/\/www.homeworkacetutors.com\/acemyhomework\/wp-json\/wp\/v2\/posts\/2415\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.homeworkacetutors.com\/acemyhomework\/wp-json\/wp\/v2\/media?parent=2415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.homeworkacetutors.com\/acemyhomework\/wp-json\/wp\/v2\/categories?post=2415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.homeworkacetutors.com\/acemyhomework\/wp-json\/wp\/v2\/tags?post=2415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}