Risk Management:
Individual Assignment — Risk Management and Risk of Risk Management of an Existing Issue.
This assessment focuses on aspects and practices of risk management and the risk of risk management and can be considered as being a combination report and academic critical assignment.
Using multiple articles from general, trade and academic literature identify and discuss an important current concern or issue for managing in an industry or commercial or business sector (NOT for a specific or individual company or organization). Do not forget to use appropriate citation throughout this report.
You need to follow the following structure for your report, using the sub-headings (the words in bold type and underlined) as the sub-headings in your assignment.
1. Introduction. Outline what the report is about – including brief summary sentences defining the risk issue, relevant industry/commercial/business sector, what makes the issue an important issue, and any document details– for example, note who wrote the report, when the report and information was gathered, any sources of that information; insert any disclaimers.
For Your Information: One seventh of the marks cover Introduction and Recommendations and how well you follow and put together the report requirements.
2. Issue Identification and Literature Review. From academic, trade and general literatures, identify the broad range and nature of the risk issues for the industry sector as found in this literature.
From the above selected literature, identify the range of possible important risk issues for this industry. Provide sufficient argument to demonstrate what makes these risk issues important –supporting the argument from the literature you selected.
Argue for one specific important risk issue that needs risk management (and provide support from the literature for this argument.
For Your Information: One seventh of the marks cover Issue Identification and Literature Review.
3. Managing the Risk Issue. From one or more literature sources, outline ONE way in which this risk issue may be managed and summarize the literature statements on this one way of managing the issue.
Suggest how this way may be managed (who does it, when is it done, what needs to be used, where does it get done, what steps of activity may be involved). Elaborate on what resources are consequently needed for this and Who is involved (consider all direct and indirect stakeholders and participants).
For Your Information: Two sevenths of the marks cover Managing the risk Issue
4. Risk of Risk Management. Outline in sufficient detail what may go wrong with this way of managing due to external factors (external and remote forces and actions).
Elaborate on what may go wrong in doing the “fix” this way (again considering who does it, when is it done, what needs to be used, where does it get done, what steps of activity may be involved).
Identify and explain what may go wrong with the costs and availability of resources should the approach be implemented. Identify and explain what may go wrong with the human side of this management.
For Your Information: Two sevenths of the marks cover Risk of Risk Management.
5. Recommendation. Given the above two sections (Managing the Risk Issue and Risk of Risk Management), outline what you recommend needs to be done and what needs to be managed or monitored to improve the chances of success with this way of managing the issue.
For Your Information: as noted earlier, one seventh of the marks cover Introduction and Recommendations and how well you follow and put together the report
requirements.
For Your Information: One seventh of the marks cover the academic style of this assignment – fluency, overall argument and explanatory reasoning, appropriate use of citations and reference list. As a correction for mark depreciation across the sections, 2% will be automatically added to the total mark.