Assessment 1 – Risk Assessment
Description
The purpose of the first assessment item is for students to apply an internationally recognised standard for managing risk (ISO 31000) to investigate and evaluate a particular threat to an organisation. To do this, students will populate and submit a corporate threat register template with their research and critical thinking, and explain the threat register entry in a brief video to report on the potential vulnerability for an organisational system – in doing so, a risk rating for the threat will be communicated to the organisation.
Why is this task important for risk management?
One of the most common pragmatic applications of risk management thinking is to assess the risk associated with changes to an organisation’s goals or practices, implementing new technologies, and changes in the organisation’s competitive or regulatory environment. This task provides students with experience in applying the principles embedded in the internationally used standard for risk management – a skill that is transferrable to every industry and workplace.
How does the unit support your learning of core content and aid completing the task?
The risk management standard provides a clear process for organisations to define, assess and evaluate events, technologies and processes for their potential risk to organisations. By treating the risk management process (defined in the standard) as a scaffold for analysis, students can readily apply the risk management concepts and theories discussed in class and readings to unpack and interpret information to develop critical insights for the risk posed by a new technology or practice.
What are you required to do?
Corporate Threat Register (around 500 words)
This task requires you to engage with classroom discussions held in tutorials to understand the scope, context and criteria (as per ISO 31000, s6.3) of a potential disturbance to a real world organisation. Using the understanding developed in class, you will then individually (not with peers) identify, research and evaluate the potential risk of the disturbance to the organisation (as per ISO 31000, s6.4), documenting your risk assessment in the Corporate Threat Register (CTR) template provided in the Assessment 1 folder on Blackboard (the template .xlsx includes an example that describes the generic information requirements for each column of the CTR template).