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CMI Study Unit

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Developing risk management strategies

This unit is about assessing risk, developing an organisational risk management strategy, aligning this to business objectives, communicating and resourcing risk management strategies, and evaluating the outcomes

Knowing, assessing and mitigating risks is a central to long term business success.

Study Unit Code: 7022V1

Study Unit Group: B

Study Unit Credits: 9


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Assignment Summary

Discuss the role of effective risk management strategies in business today. Display your understanding of risk and the various roles, responsibilities, tools and models that are central to managing risk. Explain how you would implement, monitor and evaluate an effective strategy around risk and describe a disaster recovery plan.

Upon completion of this CMI unit you will be able to:

  • Understand the concept of risk, roles and responsibilities for risk management, and risk management tools and models.
  • Understand the resourcing and implementation of risk management strategy.
  • Understand the evaluation and management of risk management strategies.

  • Course Materials

    All of the below are techniques related to the Study Unit and can be read, applied and referenced in completion of the Study Unit.

    Bayesian Analysis Bounded Rationality Model of Decision-Making Business Continuity Management / Business Continuity Planning Business Modelling Capital Asset Pricing Model Continuous Improvement Corporate Audits Cost-Benefit Analysis Credit Analysis Crisis Management Critical Path Analysis Delphi Forecasting Method Financial Reporting Requirements Forecasting Emergent Change Globalisation Leadership Monte Carlo Simulation Organisational Cybernetics Risk Management in Purchasing and Supply Management Scenario Planning Sensitivity Analysis Simulation Supply Chain Risk Management Transformational Leadership Strategic Planning Strategic Contingency

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