In Week 2, you will be asked to start thinking about constructing a scenario, in a structured way, where strategic and/or operational risks come into play. Based on this scenario, you will need to carry out the following assignment tasks:
1. Describe the Scenario (in a written format – no more than 1-page listing Group members, and their respective responsibility) – this needs to be submitted no later than Week 3. Feedback will be given to you in week 4.
2. Provide an overview of the organisation, product/service, key stakeholders, and any other critical information relating to your Scenario. This is essential background for establishing the relevant context of what you are facing as a risk manager.
3. Elaborate on Risk Identification (What, How, and Why in detail with examples).
4. Describe how and why you quantified at least three (3) risks in detail.
5. Discuss (in general) the development of risk response planning as expected in your scenario.
6. Describe (in detail) the risk plan implementation as expected in your scenario.
7. Develop an appropriate risk tracking, monitoring, and control (TMC) system.
8. Identify an incident that has occurred either in one of your identified risks, or related to all your risks, and describe the nature and extent of change that has taken place.
9. Elaborate on the (in)effectiveness of your TMC in handling and dealing with the incident occurred in the above point.
10. Give a summary of key issues in the scenario.