Question 4.(1 mark+ 3marks)

Suggested word limit: 50-150words

Based on the given information, which risk management framework is Stora Enso more inclined to? Justify your answer.

II.Stora Enso Risk Analysis

Based on the given tables, answer the questions given below

Risk	Probable Impact (in Million USD)	Probable velocity	Non-Financial impacts
Risk 1: Data hacking which could lead to a breach and loss of data	1.7 to 1.9 million	High	Loss of data security
Risk 2: Use of old technology saws which leads to 15% raw material wastage	3.1 to 3.4 million	Low	Probable loss employee branding
Risk 3: Pandemic induced market depression which could lead to reduced sales	4.5 to 4.7 million	Medium	Loss in motivation for the sales team
Risk 4: New regulations on working shifts that could lead to shutting down of night shift working in factories	2.4 to 2.6 million	High	Lay-offs of night shift workers
Risk 5: End customers preferring biodegradable plastic packaging which may impact the current product line	0.6 to 0.8 million	Low	No growth in brand value

Impact Scale	Probable Impact (in Million USD)
1	0-0.9 million
2	1.0-1.9 million
3	2.0-2.9 million
4	3.0-3.9 million
5	4.0 million and above

Please use the excel template attached below to answer the following questions

Submission Template_Excel File_ERMDownload

Question 5.(15marks)

1. Find the impact rating for each of the risks in the"Calculate Impact" sheet of the template provided.
2. Calculate the average likelihood of the risks in the "Calculate Likelihood" sheet of the template provided.
3. Using the values of Likelihood and Impact in the "Likelihood - impact table" sheet of the template provided, plot the risks on the heat map also provided in the "Likelihood - impact table" sheet.

Question 6.(5marks)

Calculate the risk scores of each risk identified and fill the column F of the "Risk Register" sheet of the template provided.

(Please Note: You may use either of the two formulae discussed to calculate the risk scores.)

Question 7.(5marks)

Identify the driver for each of the given risksand fill the column G of the "Risk Register" sheet of the template provided.

Question 8.(5marks)

Identify the risk owners for the given risks and fill the column H of the "Risk Register" sheet of the template provided.

Question 9.(5marks +5marks)

Suggested word limit: 80-150 words

Based on the heatmap created, which risks from the table should Stora Enso address first?Justify your answer.