Likelihood and Impact Scales - Manage the Identified Risks - Reduce a Threat or Enhance any Opportunity - Risk Management Assignment Help

Assignment Task

Task:

1. A summary of the current aims of the organization. Remember that a risk is an event that has an impact on the achievement of aims (positive or negative).

2. Define likelihood and impact scales used to calculate risk scores. Use a probability and impact Matrix to identify the unacceptable risk score

3. Identify and analyze a clear set of Threats and Opportunities. Your findings should include research material that provides support for risk assessment, e.g.: how severe could it be and how likely is it? Use financial or numerical data where available and appropriate e.g.: levels of fines for similar events, did it happen recently?

4. What controls are already in place to manage the identified risks.

5. Application of the above knowledge to provide an assessment of the severity and likelihood of each risk.

6. Application of knowledge from across your modules to provide consultancy advice about how the organization could reduce a threat or enhance any opportunity.

7. A concise summary of key points.

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