Exam (elaborations)
MNO3706 Assignment 1 Semester 2 2024
- Course
- MNO3706 (MNO3706)
- Institution
- University Of South Africa
MNO3706 Assignment 1 Semester 2 2024 QUESTIONS WITH ANSWERS
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MNO3706Assignment 1
Semester 2 2024
QUESTIONS WITH COMPLETE ANSWERS
[School]
[Course title]
, MNO3706 Assignment 1 Semester 2 2024
1. Explain the use the technique used to measure or manage risk. (10)
2. Clarify the fundamental principles of learning. (10)
3. Explain the four (4) step teaching method. (10)
### 1. Explain the Technique Used to Measure or Manage Risk (10)
Risk measurement and management involve various techniques to identify, assess, and mitigate
potential risks. One widely used technique is **Risk Assessment**, which includes several
steps:
**Risk Identification**: This step involves recognizing potential risks that could affect a project
or organization. Tools such as brainstorming, SWOT analysis (Strengths, Weaknesses,
Opportunities, Threats), and checklists can be used.
**Risk Analysis**: Once risks are identified, they need to be analyzed to understand their
potential impact and likelihood. Quantitative methods like probability distributions, statistical
models, and simulation (e.g., Monte Carlo simulation) can be used to quantify risks. Qualitative
methods, such as risk matrices, can help prioritize risks based on their severity and probability.
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