Risk Management Plan (MS Word Document)
- Due May 2, 2023 by 23:59
- Points 40
- Submitting an external tool
- Available Mar 7, 2023 at 1:00 - May 8, 2023 at 11:59 2 months
The Risk Management Plan (RMP) is a comprehensive approach to identification, assessment and analysis of risks for the business case developed in Assessment 1. The RMP will be based on the principles detailed in AS/NZS ISO 31000:2009 Risk management – Principles and Guidelines Section 5 and IEC/ISO 31010 Risk Management – Risk Assessment Techniques Standard.
The Risk Management Plan will need to include the identification and assessment of twenty (20) risks in a risk register across a risk management framework. During the risk assessment, students will need to evaluate the effectiveness of the controls that are currently in place.
Four (4) risk treatment plans will need to be developed for risks deemed unacceptable to the business, based on its risk appetite and risk tolerance.
The aim of this assignment is for students to demonstrate a thorough understanding of the principles, frameworks and processes used in risk management, coupled with clear strategic and analytical thinking when developing and implementing risk management plans.
The Risk Management Plan should be up to a maximum 2500 words (excluding appendices).
Student’s Guidelines for the Risk Management Plan
The preparation of the Risk Management Plan is to be completed individually and should cover the following areas:
- Clear structure to the risk management plan
- Thorough development of risks profiles, register, process, plans etc.
- Thorough strategic and analytical thinking
- Risks identified – 20 risks. For each risk you should clearly identify risks, assessment and management processes/ plans.
Development of 4 Risk treatment plans
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Risk Management Plan Rubric |
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Category/ Grade |
Fail (<50) |
Pass (50-64) |
Credit (65-74) |
Distinction (75-84) |
High Distinction (85+) |
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Identification of the Risk Management Concept |
Has not grasped the Risk Management Concepts in this assignment |
Demonstrates engagement with some Risk Management Concepts in this assignment |
Grasps many of the Risk Management Concepts in this assignment |
Sound grasp of most of the main Risk Management Concepts in this assignment |
Fully grasps all of the main Risk Management Concepts s in this assignment |
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Critical analysis of the Issues |
No analysis or engagement of the issues |
Has begun to grasp the issues in this assignment |
Demonstrates ability to analyse many of the issues in this assignment |
Demonstrates a pronounced ability to analyse most of the issues in this assignment |
Demonstrates a pronounced ability to analyse all of the issues in this assignment |
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Engagement with Contemporary Scholarship |
No evidence of engagement with scholarly viewpoints |
Demonstrates limited ability to propose appropriate solutions, or comment on solutions or proposed solutions, in this assignment |
Exhibits engagement with a range of scholarly viewpoints |
Evidences ability to critically evaluate a range of scholarly viewpoints |
Demonstrates pronounced ability to critically evaluate and empathetically assess a range of scholarly viewpoints |
|
Comments on Solutions or Strategies |
Demonstrates no ability to propose solutions, or comment on solutions or proposed solutions, in this assignment |
Evidences engagement with a range of scholarly viewpoints |
Demonstrates ability to propose appropriate solutions, or comment on solutions or proposed solutions, in this assignment |
Demonstrates pronounced ability to propose appropriate solutions, or comment on solutions or proposed solutions, in this assignment |
Demonstrates pronounced ability to propose appropriate solutions, or evaluate solutions or proposed solutions, in this assignment |
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Contribution to the Learning Community |
Zero or engagement with the topic; no evidence of contribution to the learning community |
Perfunctory engagement with the topic |
Exhibits engagement with the topic and a range of scholarly viewpoints |
Demonstrates ability to engage with a topic in a cognitive and informed way |
Demonstrates pronounced ability to engage with topic |
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Composition |
Poor spelling and grammar characterize the work |
Many errors in spelling and grammar evidenced in paper |
Some grammatical or spelling errors evidenced in the paper |
Few grammatical or spelling errors are noted in paper |
Consistently uses correct grammar with rare misspellings |
Find Rubric
