BFF5902 Discussion Questions.pdf - BFF5902 Introduction to Risk Principles Seminar Week 12 \u2013 Review of Discussion Questions Learning objectives This

BFF5902 Discussion Questions.pdf - BFF5902 Introduction to...

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BFF5902 Introduction to Risk Principles Seminar Week 12 – Review of Discussion Questions
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2 Learning objectives This seminar contains guidance on answering the class discussion questions posed during the semester. Relate the questions to the relevant lecture and recommended readings. This guidance is to be read in conjunction with the required material. Be able to explain key definitions and processes in the context of AU/NZ 31000:2009. Remember examples that you have researched yourself and learned from other group presentations or assignments.
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3 Week 2 Question 1Discuss: Guidance (a)Correct. Comes from the definitions of risk and uncertainty.
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4 Week 2 Question 2Critique the following statement in respect of decision tree analysis: §Define “Utility”, “Risk Aversion” and “Loss Aversion” §Discuss how might this affect management’s decision making §Explain what decision rule a risk-averse person/organisation should follow. In practice, what role does the risk management framework play in influencing business decisions? Guidance
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