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

Apa style reference with in -text citationsdevelopment of a

APA STYLE REFERENCE WITH IN -TEXT CITATIONS Development of a Comprehensive Security Management Plan. In Section II. Security Business Requirement (Week 2) will be 2-3 pages to assess security business requirements for Am ...

Lead and influence assignment-in this assignment you are

Lead and Influence Assignment- In this assignment, you are encouraged to be a "participant-observer" at your workplace.  This means that you should be observing and reflecting on leadership behaviour or acts that you see ...

Decision tree analysisimagine you have your mba degree and

Decision Tree analysis Imagine you have your MBA degree and have just been hired as Assistant to the Vice President. Your boss tells you that the company is thinking about building a new hotel. The success of the hotel w ...

Case study - inventory management for pharmaceutical

Case Study - INVENTORY MANAGEMENT FOR PHARMACEUTICAL INDUSTRY Questions- 1. How well do you think the existing inventory control system works? What are the current annual total costs for the selected items? 2. What polic ...

Case study - li question -from the facts given in the above

Case Study - Li Question - From the facts given in the above Case Study, Li has identified the following ethical principles/procedural issues she should consider. With reference to the APES 110 Code of Ethics for Profess ...

Textbook requirements - stone r j 2013 managing human

Textbook requirements - Stone, R J. 2013, Managing Human Resources, 4th edn, Wiley, Milton. Learning Outcomes- 1. Identify the different approaches to the study and practice of employment relations. 2. Recognise the rela ...

Test -multiple choice1 alia a graphic artist at an

TEST -MULTIPLE CHOICE 1. Alia, a graphic artist at an advertising firm, realizes that the head designer, Ryan, has been copying designs from the Internet and passing them off as his own. Alia informs the marketing head a ...

Sm case analysis transportation and warehousingamazon

SCM Case Analysis: Transportation and Warehousing(amazon) Write a paper about their supply chain strategy and their use of forecasting and planning to develop their strategy. L. L. Bean. Amazon.com Starbucks. Intel. John ...

1 principles and practices of managementhow will you

1. Principles and Practices of Management How will you influence people to strive willingly for group objectives in your organization (target based industry)? Apply your interpersonal influence through communication proc ...

Bsbhrm405a support the recruitment selection and induction

BSBHRM405A Support the recruitment, selection and induction of staff- Describes the performance outcomes, skills and knowledge required to execute tasks associated with the recruitment cycle. Performance of the work desc ...

  • 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

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate