Assessment 1 Risk Management Framework and Measuring

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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

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, 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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