H/503/5097 Evaluate approaches to managing risk.

Risk Management

Aims

To raise business risk awareness and develop knowledge and understanding in the assessment, monitoring and control of business risks. To enable the learner to develop an appreciation of the implications of business risks.

Learning Outcomes

1. Understand the risk management function in business

1.1 Examine the role of the risk management function in business.

1.2 Assess the role of business function sin the management of risk.

2. Understand how business risk is assessed and managed.

2.1 Analyse the risk assessment process.

2.2 Evaluate approaches to managing risk.

2.3 Examine the risk management process.

3. Understand the effects of business risks and how they can be managed.

3.1 Analyse the main drivers of business risk.

3.2 Appraise the impact of different types of risk for a business organisation.

3.3 Assess which business areas are high risk.

3.4 Analyse risk management strategies.

4. Understand approaches to crisis management and business continuity planning.

4.1 Analyse the vulnerability of businesses to breaks in continuity.

4.2 Critically evaluate approaches to crisis management and business continuity planning.