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Unit 44: Establish business risk management processes J/506/2048
Learning Outcome - The learner will:
Assessment Criteria - The learner can:
1. Understand business risk management models and techniques
1.1Analyse standards relating to the management of business risk1.2Analyse the factors influencing different types of risk1.3Evaluate the relationship between risk management, business continuity and crisis management1.4Evaluate a range of scenario planning and crisis management models1.5Analyse methods of calculating risk probability1.6Analyse the effectiveness of a range of risk monitoring techniques1.7Analyse the significance of risk governance structures and ownership
2. Be able to develop business risk management processes
2.1Review periodically the effectiveness of risk management strategy, policy and criteria2.2Take action to ensure that risk profiles remain current and relevant2.3Develop viable and affordable risk management processes that are consistent with business needs and the degree of potential impact
of the risk2.4Develop contingency and business disruption processes that are commensurate with the degree of risk to business as usual and
2.5Take action to ensure that risk management processes are integrated into operational plans and activities
3. Be able to evaluate the effectiveness of business risk management processes
3.1Appraise the suitability of a range of risk evaluation techniques to business risk management3.2Evaluate risk using valid quantitative and qualitative information3.3Identify areas for improvement in identifying and managing risk3.4Encourage a culture that accepts and manages risk