[Solved]1.1 Assess the impact of different types of risk on organisations

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[Solved]1.1 Assess the impact of different types of risk on organisations

ATHE Level 6 Extended Diploma in Management

Risk Management

Unit Aims

The aim of this unit is to help learners develop knowledge and understanding of the importance of managing risks in business organisations and enable them to develop an effective risk management plan.

Learning Outcomes

1. Understand the effects of risks on business organisations

1.1 Assess the impact of different types of risk on organisations

1.2 Evaluate the activities which are high risk of different sectors in the economy

2. Understand the risk management function in organisations

2.1 Explain what is meant by a business risk

2.2 Explain the role of the risk management function in organisations

2.3 Assess the role of business functions in the management of risk

3. Understand approaches to crisis management and business continuity planning

3.1 Evaluate the vulnerability of organisations to breaks in continuity

3.2 Assess approaches to crisis management and business continuity planning

4. Be able to prepare an effective risk management plan

4.1 Assess activities for an organisation to identify the probability of risks

4.2 Evaluate the potential impact of identified risks to the business

4.3 Prepare a risk management plan to help mitigate potential risks