Risk Management and Innovation Case-Based Assignment

Assignment Brief

As part of the formal assessment for the programme you are required to submit a Risk Management and Innovation case based assignment. Please refer to your Student Handbook for full details of the programme assessment scheme and general information on preparing and submitting assignments.

Learning Outcomes:

After completing the module you should be able to:

1. Analyse and evaluate risk in practical situations using a conceptually based, critical understanding of key concepts and
2. Critically evaluate theoretical and research based views of effective
3. Respond, in an informed and critically aware way, to identified constraints that are likely to impact upon the effectiveness of risk management
4. Critically apply a range of techniques, processes and actions to assist in the management of risk in a variety of
5. Address, in an informed and critically aware way, a range of human resource and organisational culture related implications of risk
6. Evaluate opportunities for innovation presented in uncertain
7. Professional Skills: Perform effectively within the professional Work within a team, demonstrating interpersonal skills such as effective listening, negotiating, persuading and presentation. Be flexible and adaptable to changes within the professional environment.

Assignment Task

 You should answer the following questions with reference to an organisation or part of an organisation, with which you are familiar. Please discuss your choice of organisation with your tutor if you are in any doubt about how appropriate it is.

Question one

1. Critically discuss three different methods or techniques available for risk (15 marks)
2. Discuss the relative roles of quantitative and qualitative risk assessment and discuss which is the more appropriate for the organisation of your choice. Give your reasons. (5 marks)

(1,000 words) (20 marks) (LO 1, 3 and 4)

Question two

1. Outline and critically discuss the organisational culture implications of embedding the effective management of risks within the day to day activities of an (15 marks)
2. Discuss how far that good practice exists within an organisation with which you are familiar and recommend steps that would improve practice in that (10 marks)

(1,250 words) (25 marks) (LO 3 and 5)

Question three

A number of different models of innovation exist. Discuss how far the process of innovation can effectively be managed and discuss which models of innovation are most applicable to an organisation with which you are familiar. Give your reasons. (20 marks) (1,000 words) (20 marks) (LO 2)

Question four

Tidd and Beasant (2013) list seven components of an innovative organisation. You are required to

1. Select three of these components and critically discuss their role within effective (15 marks)
2. Use your chosen three components to evaluate the innovative activity and capacity of an organisation with which you are familiar. (10 marks)
3. Based upon that evaluation, suggest improvements that could improve the innovative activity of that (5 marks)

(1,500 words) (30 marks) (LO 6)

Question five

With reference to the professional skills described in learning outcome 7 at the head of this document, reflect upon and discuss the role that they might play in contributing to effective risk management. (250 words) (5 marks) (LO  7)

Risk: Risk refers to the potential for harm or loss in a given situation. It is a measure of the likelihood and severity of negative consequences arising from a particular activity, event or condition. Hazard: A hazard is a potential source of harm or danger. Hazards can be physical, chemical, biological or psychological. Probability: Probability is a measure of the likelihood of an event occurring. It is expressed as a number between 0 and 1, with 0 meaning that the event is impossible and 1 meaning that the event is certain.

Consequence: Consequence refers to the outcome or result of a particular event or situation. In risk analysis and evaluation, consequences are usually assessed in terms of their severity and impact. Exposure: Exposure refers to the degree to which people, property, or the environment are subjected to a particular hazard. The level of exposure can affect the likelihood and severity of the consequences.