Chapter Name: Design and Implement Appropriate Business Risk Management Policies and Processes
Description:Teaches creation of proactive policies and procedures to mitigate operational and strategic risks.
Purpuse:Minimize business disruptions and legal exposures through structured risk management.
Rational:Proactive risk planning ensures sustainability and resilience in retail operations.
Chapter Assessment
Scope of Practical Skill
Key Requirement 1: Analyse the specific situation
Identify existing risk management practices and areas of concern.
Key Requirement 2: Identify the appropriate processes that must be used
Determine methodologies and frameworks for risk management.
Key Requirement 3: Apply the processes and package the findings and
Develop and document risk management strategies.
Key Requirement 4: Follow implementation steps and review for improvement
Implement risk management strategies and monitor outcomes.
Assessment Questions
Assessment 1 : Observe and evaluate the extent to which the candidate follows the procedural steps and applies the behavioural processes
The learner is expected to analyse the specific situation for designing risk management policies and procedures.
Assessment 2 : Evaluate the level of demonstrated understanding of the theories and concepts that underpin the applied techniques
The learner is expected to identify the appropriate processes to implement business risk management.