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Assessment 1 Risk Management Framework and Measuring
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Post Graduate Diploma in Risk Management: Risk Management Framework and Measuring Assessment 1
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,Table of Contents
Question 1: Demonstrate how XYZ Corporation could use the FIRM risk score card to
manage its risk............................................................................................................................1
Introduction............................................................................................................................1
The Firm Risk Scorecard........................................................................................................1
Implementing the FIRM Risk Score Card at XYZ.................................................................1
Conclusion..............................................................................................................................6
Question 2: Assuming that the organisation is not properly managing its environmental
emissions and waste disposal, critically evaluate XYZ Corporation’s impact on the
achievement of the sustainable Development Goals (SDGs) [SDG 13 and SDG 14]...............7
Introduction............................................................................................................................7
Overall Impact of XYZ Corporation......................................................................................7
SDG 13: Climate Action........................................................................................................8
SDG 14: Life Below Water....................................................................................................9
Conclusion............................................................................................................................10
Question 3 Examine the techniques for risk assessment that XYZ Corporation could
implement to overcome its historical challenges of poor risk management practices and the
absence of established risk assessment protocols.....................................................................10
Introduction..........................................................................................................................10
Risk Assessment techniques.................................................................................................10
Conclusion............................................................................................................................14
Question 4: Assess how a risk management strategy can be undertaken by XYZ Corporation
and comment on its appropriateness in the context of the organisation...................................15
ii
, Introduction..........................................................................................................................15
Risk Management Strategy for XYZ Corporation...............................................................15
Conclusion............................................................................................................................17
Question 5: Evaluate this statement by advising XYZ Corporation on the controls to mitigate
against a hazard risk such as a natural disaster........................................................................17
Introduction..........................................................................................................................17
Risk Mitigation Strategies:...................................................................................................17
Conclusion............................................................................................................................20
References................................................................................................................................22
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