Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Management Theories Expert

problem 1: Be able to understand the concept of risk, roles and responsibilities for risk management and risk management models and tools.

A) describe the meaning of the risk management to an organization

Concept of risk:

• What is risk?
• Risk and decision making.
• Kinds of strategic risk.
• Six steps to managing strategic risk: Slywotzky and Drzik
• Corporate Financial Risk and kinds.
• Approaches to managing risk strategically.
• Risk Vulnerability.
• Managing complexity, uncertainty and ambiguity.
• Dynamic risk management.

B) Find out the roles and responsibilities for the risk management at senior management level

• The role and contents of the risk management strategy, comprising risk profile, risk appetite and RM strategic objectives and KPIs
• The integration of risk management into the organization.
• The role of the risk management policy and its key ingredients, in particular the policy objectives and senior management duties.
• The role and necessary ingredients of the risk management implementation plan.

C) Evaluate risk management models:

• ERM approach
• ISO31000:2009
• M_O_R Framework
• GRC Capability Model

problem 2: Be able to understand the resourcing and implementation of the risk management strategy.

A) Evaluate the risk management criteria against which risk can be assessed.

Key factors to take into account in the risk identification.

B) Critique techniques to recognize and quantify risk, comprising risk interdependence:

• The concept of risk interdependency.
• The pros and cons of various risk identification methods.
• The concepts of risk factors and risk criteria.
• Risk scoring methods vs. risk probabilistic analysis
• What Monte Carlo simulation includes.
• What risk evaluation comprises.

C) Develop strategies to remove, mitigate, deflect or accept risk:

• Risk treatment strategies: Risk avoidance, reduction, transfer and retention
• The kinds of controls which can be used for operational hazard strategic and financial risks
• Factors to consider when selecting risk treatment policies.
• The elements of a risk treatment plan.

D) Find out a process for communicating, resourcing and managing risk management strategies.

• Establish a communication plan to implement the risk management framework that has been developed – who, what, when and how (what are the components)?

problem 3: Be able to understand the evaluation and management of the risk management strategies.

A) Assess the outcomes of risk management strategies:

• The scope of strategic risk management evaluation.
• The elements of a strategic risk management control system.
• Issues with Control systems such as their quantification.
• Assessment tools.

B) Find out actions to respond to outcomes of risk strategies.

• How to enhance your strategic RM.

C) Devise a disaster recovery plan:

• Business Impact Analysis.
• Treatment Strategies.

D) Examine affects that would affect a review of the disaster plan.

Management Theories, Management Studies

  • Category:- Management Theories
  • Reference No.:- M9631

Have any Question? 


Related Questions in Management Theories

Discussion topic 1 7-step planfrom this units reading

Discussion Topic 1: 7-step Plan From this unit's Reading, discuss how you might use Ryan's 7-step plan to bring about a specific change in your organization. Discussion Topic 2: Organizational Culture Based on the articl ...

Change management workbook 1a context analysisq1 how is ai

CHANGE MANAGEMENT WORKBOOK 1 A. Context Analysis Q1: How is AI (Artificial Intelligence) a game-changer in the industry you're analyzing? What new competitive dynamics/models emerge b/c of the introduction of AI? Q2: Ben ...

Assignment inventory management systemsyour sister owns a

Assignment: Inventory Management Systems Your sister owns a small clothing store. During a conversation at a family dinner, she mentions her frustration with having to manually track and reorder high demand items. She wo ...

Supply chain management strategy proposaldevelop a supply

Supply Chain Management Strategy Proposal Develop a Supply Chain Management Strategy Proposal, specifically dealing with the following scenario. The scenario centers around the choice of a location for a new distribution ...

Discussion question - five bases of powerconduct research

Discussion Question - Five Bases of Power Conduct research on French and Raven's five bases of power, which include coercive, legitimate, reward, referent, and expert power. For the first part of your post, choose five l ...

Discussion - managerial planningwhat are the types of plans

Discussion - Managerial Planning What are the types of plans? How are they distinguished from one another? Do you think plans with incremental objectives are more effective than those that contain stretch goals? Why or w ...

Individual assignment reflective essaythe individual

Individual Assignment: Reflective Essay The individual written assignment will take the form of individual reflection upon some aspect of your personal experience of management and organisations. Throughout the module, a ...

Choose any existing company of your choice operating in

Choose any existing company of your choice operating in Singapore. The company can be from any industry. Imagine that you have been appointed as the Human Resource (HR) Manager of your chosen company. Your boss has asked ...

What is a cost-benefit analysis what is the difference

What is a cost-benefit analysis? What is the difference between intrinsic value and acquired value? What is single loss expectancy? What is annual loss expectancy? What is the difference between benchmarking and baselini ...

Research and find a cool supply chain technology that is

Research and find a cool supply chain technology that is being used to insure safe and healthy foodstuffs within a retail business of our choice. What federal regulations must that followed to insure such safe and health ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen