6.4 Risk Management Unit aims
Unit level Unit code Credit value Unit grading structure Assessment guidance
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. 6 H/503/5097 10 Pass To achieve this unit, learners must achieve the learning outcomes and meet the standards specified by the assessment criteria for the unit. Additional assessment guidance is provided on the ATHE sample assignment brief. Learners will approach their work from a theoretical perspective and will need to use exemplar material to illustrate the points which are made. This may be taken from their own experience or from research.
Learning outcomes The learner will:
Assessment criteria The learner can:
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 functions in the management of risk 2.1 Analyse the risk assessment process 2.2 Evaluate approaches to managing risk 2.3 Examine the risk management process 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 4.1 Analyse the vulnerability of businesses to breaks in continuity 4.2 Critically evaluate approaches to crisis management and business continuity Planning
2 Understand how business risk is assessed and managed 3 Understand the effects of business risks and how they can be managed
4 Understand approaches to crisis management and business continuity Planning
Indicative Content 1. Understand the risk management function in business Role of risk management Purpose of risk management – why risks need to be managed Identifying risks Review of activities and internal environment Setting objectives Risk assessment (impact and likelihood) Risk response plans Control and monitoring Functions that have a role in managing risk Strategic planning Marketing Compliance Operations Legal and accounting London School of International Business| www.LSIB.co.uk
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