Reference no: EM132741014
1. Organisational processes, procedures and requirements for undertaking risk management assessments and managing risk should be periodically reviewed. Why?
2. How do you determine the scope for risk management process?
3. Why is it necessary to consider stakeholders' issues throughout the risk management process design?
4. Comment on the influences each of these factors have on the organisation - political, economic, social, legal, technological and policy context?
6. What do you need to consider when you document critical success factors, goals or objectives for area included in scope?
7. Why do you need to obtain support for risk management activities?
8. Communicate with relevant parties about the risk management process and invite participation?
9. As a leader, you will need to invite relevant parties to assist in the identification of risks. Name a) at least 5 areas of the business that will have potential risks, b) what those risks could be and c) identify at least 3 types of people / roles that could be involved.
10. What are some of the dangers of attempting to manage risks without properly researching them? Be sure to include a range of research methods in your response.
11. What tools and techniques would you use to generate a list of risks that apply to the scope, in consultation with relevant parties?
13. How do you assess the impact or consequence if risks occur? Please ensure you include the consequence scale in your response with a description of each of the 5 categories e.g insignificant, minor etc.
14. What do you need to consider when you evaluate and prioritise risks for treatment? Please ensure you include a) how you use a risk matrix and b) a description of the typical risk categories you use when evaluating the likelihood and level of impact for the risks.
15. As a manager you need to determine and select the most appropriate options for treating risks. There are 5 options, describe what they are and provide an example.
16. What do you need to include when developing a risk treatment action plan for implementation? Refer to this link to see the many examples of a Risk Treatment Action Plan.
17. What do you need to consider when communicating risk management processes to relevant parties?
18. How do you ensure all the documentation is in order and appropriately stored? Please ensure you explain a) why documents need to be kept, b) why they need to be retained or destroyed and c) what are some storage options.
19. What are the 5 key steps when implementing and monitoring the action plan? Explain briefly each of these steps.
20. When evaluating the risk management process, there are 3 different approaches to evaluation and 6 different data collection methods. Can you briefly describe each of these?