Describe the stages in the risk management process

Assignment Help Management Theories

Reference no: EM131161555

1. a) Create a list of common business risks.

b) Create a list of risks you are likely to experience in YOUR workplace.

2. Explain the terms 'consequence' and 'likelihood' of risk.

3. Describe the stages in the risk management process.

4. Discuss one technique or tool that can be used to identify risk.

5. List the advantages and disadvantages of qualitative risk analysis.

6. List the advantages and disadvantages of quantitative risk analysis.

7. What is the purpose of risk evaluation?

8. Why are risk registers prepared?

9. a) Define the term 'risk treatment.

b) Identify four options for treating risks with negative outcomes.

c) What is the purpose of risk treatment plans?

10. a) Why do managers, supervisors and team leaders monitor and review risk treatment?

b) Why should the risk management process be an integral part of the organisation's overall management system?

c) Identify three benefits an organization gains from effective risk management.

d) Discuss risk management strategies that lead to good corporate governance.

e) How does risk management add value to an organization?

f) Identify three positive outcomes for an organization that has the ability to handle uncertainty.

Reference no: EM131161555

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