Risk Control Management Questions – Risk Management Assignment Help

Assignment Task

Task 

Risk Management 

Question 1
Identify and critically assess the main FIVE risks for an industry or specific organisation of your own choice.  

Question 2
Explain how risk management may be implemented and communicated across a large international organisation.

Question 3
Identify and discuss the key elements of a ‘traditional’ business continuity framework.  Your answer should include examples to illustrate the points raised.

Question 4
Critically review approaches open to large corporate organisations to ‘finance’ risk as part of their overall mitigation strategy.

Question 5
(a) Charting risk can be used to identify risk. Discuss the meanings of resources, threats, consequences, and modifying factors.
(b) Discuss how to use organisational charts to identify areas of risk.  

Question 6
(a) Discuss the utility function on wealth for a risk-averse person.  
(b) Attitudes towards risk between an individual and a group of individuals may be extremely different. Apply the concepts of risky shift and group polarisation to discuss why risk managers need to take into account group attitudes towards risk when making risk management decisions.

Part -2

Question 1
(a) Briefly define 5 risks that could be faced by an organisation.
(b) Discuss the definitions used by different authors to explain the meanings of risk. 

Question 2
Enterprise Risk Management is more commonly used as a method for identification of risks. Critically assess the benefits of adopting this method of risk identification within a firm.                        

Question 3
Organisations may decide to accept the uncertainty associated with a particular risk exposure. 
(a) Discuss the economic benefits of risk retention.
(b) Discuss four of the methods of planned risk retention. 

Question 4
a) Discuss the three methods by which the transfer of risks can be achieved through the transfer of risk control.        
b) Evaluate the use of insurance as a means of risk transfer.
c) Dickson suggested that there are three main areas of practical problems associated with the use of insurance. Discuss these problems.

Question 5
(a) Define peril, hazard, physical hazard, and moral hazard.
(b) Discuss two definitions to explain the meanings of risk. 

Question 6
(a) Discuss the utility function on wealth for a risk-averse person.
(b) Attitudes towards risk between an individual and a group of individuals may be extremely different.  Apply the concepts of risky shift and group polarisation to discuss why risk managers need to take into account group attitudes towards risk when making risk management decisions.

Question 7
(a) Charting risk can be used to identify risk. Discuss the meanings of resources, threats, consequences, and modifying factors.
(b) Discuss how to use organisational charts to identify areas of risk.
 

Question 8
An organisation is considering two alternative risk reduction projects.  Both involve a three year contract.  Project A is for provision of a burglar alarm at a cost of £20,000.  Project B is for the provision of security guards at a cost of £23,000.  Projected savings for each for the period of the contract are:

Additional information:
Assume full payment made at the commencement of the contract and savings realised at the end of each year.  Discount rate is 8%.
The PV factor is used to calculate the present value of a series of values.

Required:
(a) Evaluate the projects using payback, accounting rate of return (based on initial capital), and net present value methods.
(b) Discuss four investment appraisal criteria.

Question 9
Organisations may decide to accept the uncertainty associated with a particular risk exposure. 
(a) Discuss three managerial benefits of risk retention.
(b) Discuss five financial indicators that can be used to assess the decision for optimal risk retention.
?

Question 10
(a) Define the meaning of group polarisation.
(b) Discuss why group polarisation occurs.
(c) Discuss the effect of group polarisation on making risk management decisions.

Question 11
a) Discuss the three methods by which the transfer of risks can be achieved through the transfer of risk control.        
b) Discuss the conditions that must be met for risk transfer to be effective.     
c) Evaluate the reasons for using insurance as a means of risk transfer.

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