Assesement

Q1)what are three ways that research can be conducted for risk related issues,and for each way,briefly describe how it may be done.

Ans.)the three ways of report on risk management conducted are as follows:

Risk profile:

* This report offers a quick reference point to determine on organization’s overall risk exposure.

* This report includes description of risk.

* Changes that have occurred and reasons for them

* Improvements or changes to treatment actions required

Risk treatment report:

* This report provides information about the status of a prescribed risk.

* It should include description of risk.

* Risk rating.

* Description of treatment action.

* Current status

Emerging risk report:

* This report is used to highlight anticipated risks, which assists in keeping the risk register current in between formal risk review process

* It includes description of risk

* Causes of risk

* Treatment action plan.

Q2) fishbone checklists and brain storming are both tools that can be used in risk management. Describe each of these and when they would best be used?

Ans.)Fishbone :

* These diagrams are cause and effect diagrams.

* Use of the fishbone diagram encourages a systematic approach to indentifying risks that looks beyond the obvious causes of a problem.

* The starting point for creating the diagram is identification of a problem. This is stated as the effect

Checklist:

* checklist can be used to help in identifying risks by using targeted questions.

* When trying to identify the risk within a specific context, it is important to interrogate the components as much as possible and Some questions is to asked.

Brain storming:

* Brainstorming is used solely for generating ideas; it does not involve analysis.

* Generate a variety of ideas in short time.

* Produce new and creative ideas.

* The goal of brainstorming is to generate ideas.

* Before you start, make sure...