1. What is the purpose, and what are the key process elements, of the current AS/NZS Standard on risk management?

Purpose

Process elements

2. Outline at least three (3) legislative and regulatory Acts that relate to the risk management context of an organisation.

3. Why is it important to evaluate the processes, procedures and requirements of an organisation before you begin a risk management process?

4. Why is it necessary to accurately determine the scope for the risk management process?

5. Identify and explain four (4) types of business risk an organisation may encounter.

6. When examining existing risk management arrangements in a company, what key areas of an organisation should be assessed for their strengths and weaknesses?

7. Why is it important to document critical success factors, goals and objectives for areas included in the scope?

8. Why is it necessary to analyse existing risk management processes, procedures and requirements before updating a risk management plan?

9.List four (4) methods that you could use to communicate risk management processes to stakeholders.

10. List four (4) stakeholder groups you could ask to help you identify operational risks.

11. List three (3) types of information a manager could use to examine risks that relate to scope.

12. List two (2) tools or techniques that managers can use to ceate and record a list of risks that apply to the scope, in consultation with others.

13. The likelihood of a risk occurring is usually expressed along a range. Describe the stages of risk likelihood that are commonly used in this range.

14. What is a consequence scale? List the most commonly used consequence rating terms.

15. What is the purpose of a risk assessment matrix?

16. What are some possible ways to treat risks? List five (5).

17. What are the key components of a risk treatment action plan? List at least four (4).

18. How could you communicate the objectives of your risk management plan to relevant parties? List at least four (4) appropriate communication methods.

19. Outline four (4) reasons why organisations need to maintain risk management documentation.

20. How can you ensure sensitive information is stored securely according to organisational policies and procedures? List at least four (4) actions you could take.

21. Why is it necessary to evaluate the risk management process?

*** Use your own words with knowledge explanation.***