Apply the principles of risk, financial and knowledge management and business ethics within internal and external regulatory frameworks.

Associated assessment criteria

Risk in the unit is managed by considering the impact and likelihood of a variety of internal and external factors.

The intended outcomes of the unit are achieved by applying accepted principles and practices of financial management.

The intellectual assets of the unit are identified, developed and protected through the application of the principles of knowledge management.

The desired outcomes of the unit are achieved within an individual ethical framework and according to the value system of the entity.

Critical Cross-Field Outcomes

Use science and technology effectively in researching, recommending and implementing management solutions in the unit, showing responsibility towards the environment and health of others.

Project

As a manager, you will also be expected to manage risks for your section or department. Do a risk assessment about the impact of internal factors on the ability of your team to achieve their objectives on time.

1. Take steps to mitigate these risks

2. Monitor the risks

3. Develop a budget for your section or department and monitor the expenses of your department on a weekly or monthly basis.

4. Manage the knowledge and skills of your team and employees by developing employees to do their work according to the required standards.

5. Also make sure that the operations manual and other sources of information are available to employees.

6. Describe the code of conduct of the company as well as the consequences of not following the code of conduct.

7. World Economic Forum (WEF) research has found that, while awareness of cyber risk has increased, many organisations feel far from adequately equipped with the tools to manage such risks, and leading practices in this domain have NOT become part of the standard set of board competencies. What are the reasons for this? (GM5 Module 4 New Dimension 1A: SO1)

To prove your ability to do this, attach the following documents:

Documents Required	Attached
Risk assessment, including identification of risks, steps to mitigate risks and the procedure for monitoring these risks.
Budget and monitoring of expenses of the unit for at least 2 months.
Copies of minutes of meetings with employees to confirm their development plans.
Explanation of how employees can access operations manual and other information.
Description of code of conduct and consequences of not adhering to the code.