Exam (elaborations)
MNO3706 Assignment 1 Semester 2 2024
- Course
- MNO3706 (MNO3706)
- Institution
- University Of South Africa (Unisa)
MNO3706 Assignment 1 Semester 2 2024 QUESTIONS WITH QUALITY ANSWERS
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MNO3706Assignment 1
Semester 2 2024
QUESTIONS WITH 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. Techniques Used to Measure or Manage Risk
Measuring or managing risk involves identifying, assessing, and controlling risks that could
potentially impact an organization. Some common techniques include:
1. Risk Identification: This involves identifying potential risks that could affect the project
or business. Techniques include brainstorming, SWOT analysis (Strengths, Weaknesses,
Opportunities, Threats), and expert judgment.
2. Risk Assessment: This process involves evaluating the identified risks to understand
their potential impact. Techniques include:
o Qualitative Risk Assessment: Ranking risks based on their probability and
impact using tools like risk matrices.
o Quantitative Risk Assessment: Using numerical methods such as Monte Carlo
simulations and decision tree analysis to assess risk magnitude.
3. Risk Mitigation: Developing strategies to reduce or eliminate the impact of risks.
Common strategies include:
o Avoidance: Altering plans to eliminate the risk.
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