Risk Management Assessment 4
1. What are three ways that research can be conducted for risk-related issues? For each way, briefly describe how it may be done.
Three ways that research can be conducted is through:
1. Primary data collection techniques. Data collected this way is unique to the organisation and is not publicly available unless the researcher chooses to publish it. Some methods of primary data collection include focus groups, interviews and surveys .
2. Secondary data collection is data that is collected by someone other than the user and can be sourced from research that already exists including published reports, case studies and statistical reseach organisations.
3. By involving others. Involving others in the risk related research can provide for a broader view, rather than just one persons opinion. Some ways to involve others include encouraging feedback, active listening and effective questioning.
2. Fishbone checklists and brainstorming are both tools that can be used in risk management. Describe each of these and when they would best be used.
Fishbone diagrams are an effictive way to analyse complex problems. The fishbone diagram encourages a systematic approach to identiying risks and goes beyond the usual obvious causes of the problem. Some benefits of a fishbone diagram include:
It provides a visual image of the problem and potential categories of causes
It allows various categories of causes to be explored.
Identifies root causes to issues.
It encourages creativity through a brainstorming process.
Brainstorming is a technique that can be carried out by an individual or a group and is an effictive way to find a conclusion for a specific problem. Brainstorming usually forms around the:
Who?
What?
Why?
When?
Where?
How?
3. What are the five stages of risk likelihood? Briefly describe each one.
1. Rare – highly unlikely, it could happen, but probably never will.
2. Unlikely – there is a slight possibility that it could happen at some time.
3. Possible –
Three ways that research can be conducted is through:
1. Primary data collection techniques. Data collected this way is unique to the organisation and is not publicly available unless the researcher chooses to publish it. Some methods of primary data collection include focus groups, interviews and surveys .
2. Secondary data collection is data that is collected by someone other than the user and can be sourced from research that already exists including published reports, case studies and statistical reseach organisations.
3. By involving others. Involving others in the risk related research can provide for a broader view, rather than just one persons opinion. Some ways to involve others include encouraging feedback, active listening and effective questioning.
2. Fishbone checklists and brainstorming are both tools that can be used in risk management. Describe each of these and when they would best be used.
Fishbone diagrams are an effictive way to analyse complex problems. The fishbone diagram encourages a systematic approach to identiying risks and goes beyond the usual obvious causes of the problem. Some benefits of a fishbone diagram include:
It provides a visual image of the problem and potential categories of causes
It allows various categories of causes to be explored.
Identifies root causes to issues.
It encourages creativity through a brainstorming process.
Brainstorming is a technique that can be carried out by an individual or a group and is an effictive way to find a conclusion for a specific problem. Brainstorming usually forms around the:
Who?
What?
Why?
When?
Where?
How?
3. What are the five stages of risk likelihood? Briefly describe each one.
1. Rare – highly unlikely, it could happen, but probably never will.
2. Unlikely – there is a slight possibility that it could happen at some time.
3. Possible –