Chapter Name: Concepts of risk assessment
Description:Teaches techniques like risk matrices and probability-impact assessments.
Purpuse:To evaluate risk levels and prioritize mitigation.
Rational:Supports informed risk mitigation strategies.
Chapters Topics
Potential Risk Factors
Focuses on identifying and documenting specific events or trends that could pose a risk to business objectives. Includes use of risk registers and risk identification tools.
Root Cause Analysis
Introduces techniques (e.g., 5 Whys, Fishbone Diagram) for uncovering the underlying causes of issues, rather than symptoms, to prevent recurrence and improve decision-making.
Scenarios Constituting Risk
Discusses different examples of risk events, such as supply chain disruption or data breach, to improve preparedness and develop scenario-based planning.
Analysis of Impact
Involves evaluating the consequences of risks if they were to materialise. Looks at severity, likelihood, cost, and duration of potential disruptions.
Risk Materialisation
Describes the point at which a potential risk becomes a real incident or event. Focuses on response mechanisms and damage control.