Page 181 - SBL Integrated Workbook STUDENT 2018

Chapter 15

Identification, assessment and

measurement of risk

Outcome

By the end of this session you should be able to:

 discuss the relationship between organisational strategy and risk management
strategy.

 develop a framework for risk management and establish risk management
systems.

 identify and evaluate the key risks and their impact on organisations and
projects.

 distinguish between strategic and operational risks.

 assess attitudes towards risk and risk appetite and how this can affect risk
policy.

 discuss the dynamic nature of risk and the ways in which risk varies in relation
to the size, structure and development of an organisation.

 recognise and analyse the sector or industry specific nature of many
organisation risks.

 assess the severity and probability of risk events using suitable models.

 explain and assess the ALARP (as low as reasonably practicable) principle in
risk assessment and how this relates to severity and probability.

 explain and evaluate the concepts of related and correlated risk factors.

and answer questions relating to these areas.

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