Unit 7 Assignment 1: Risk Management in a Business Model

Unit 7 Assignment 1: Risk Management in a Business Model
Risk Management in a Business Model
Declaration
This report entitled the overview of understand the risk management functions in business, understand how business risk is assessed and managed, understand the effects of business risks and how they can be managed and understand approaches to crisis management and business continuity planning. The aim of this assignment is to raise business risk awareness and develop skills to assess, monitor and control business risks and to develop an appreciation of the implications of business risks
I certify that the work submitted for this assignment is my own and research sources are fully acknowledged.
Name: Susan Smith
Date: 03-17-2015
Table of content
Content Page
Declaration 1
LO1: Understand the risk management function in business 3
P1.1 Examine the role of the risk management function in business 3
P1.2 Assess the role of business function sin the management of risk 4
LO2: Understand how business risk is assessed and managed 5
P2.1: Analyze the risk assessment process 5
P2.2 Evaluate approaches to managing risk 7
P2.3 Examine the risk management process 8
LO3: Understand the effects of business risks and how they can be managed 9
P3.1 Analyze the main drivers of business risk 9
P3.2 Appraise the impact of different types of risk for a business organization 10
P3.3 Assess which business areas are high risk 11
P3.4 Analyze risk management strategies 12
LO4: Understand approaches to crisis management and business continuity planning 13
P4.1 Analyze the vulnerability of businesses to breaks in continuity 13
P4.2 Critically evaluate approaches to crisis management and business continuity planning 13
Conclusion 14
Reference 15…