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7204ENG Risk Analysis And Management

tag 0 Download 47 Pages / 11,689 Words tag 04-03-2020
  • Course Code: 7204ENG
  • University: Griffith University
    icon is not sponsored or endorsed by this college or university

  • Country: Australia


Assignment Task

Each group is requested to start thinking about constructing a scenario, in a structured way, where strategic and/or operational risks come into play. Based on this scenario, you will need to carry out the following assignment tasks:

  1. Describe the Scenario.
  1. Provide an overview of the organisation, product/service, key stakeholders, and any other criticalinformation relating to your Scenario. This is an essential background for establishing the relevant context of what you are facing as a risk manager.

  2. Elaborateon Risk Identification (What, How, and Why in detail with examples).
  1. Describe how and why you quantified at least three (3) risks in detail.
  1. Discuss (in general) the development of risk response planning as expected in your scenario.
  1. Describe (in detail) the risk plan implementation as expected in your scenario.
  1. Develop an appropriate risk tracking, monitoring and control (TMC) system.
  1. Identify an incident that has occurred either in one of your identified risks, or related to all your risks, and describe the nature and extent of change that has taken place.

  2. Elaborate on the (in)effectiveness of your TMC in handling and dealing with the incident occurred in the above point.

  3. Give a summary of key issues in the scenario.

Task Requirements

In responding to the above tasks, it is expected that you will be demonstrating your capabilities in:

Dealing with various Stakeholders having different attitudes towards identified risk(s) Using both objective and subjective risks via probability distribution and fuzzy logic Referring to national or international risk standards

Making decisions under risk (one example) & under uncertainty (one example)

Applying one or more of the risk management tools and techniques to deal with Only One of the following aspects:

Safety,  Finance,  Procurement, Design, Contracts,  Technology, Or  Innovation.

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Total 47 pages

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