2019 S1 Final Preparation for BFF5902.pdf - GoFinal...

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GoFinal 精品补习 (Wechat: GoFinal) 1 2019 S1 Final Preparation for BFF5902 Part A 7 5 SAQ 30 定义 + 解释 一般一个小问 (也会有举例) Part B 4 个问题 SAQ 50 每道题一般有 2 3 个小问 Part C 2 1 SAQ 20 每道题 3 个小问(也会有画图) 课程结构: Week 1Overview of risk, categories of risk and risk framework Week 1 Explain the definition of risk as per ISO 31000:2009. Some example of definitions of Risk-refer Aven & Renn (2009) Different industries and regulators have created many similar but different definitions. We will use the last one. Risk is condition in which there is a possibility of an adverse deviation from a desired outcome that is expected or hoped for (Vaughan 2014) Risk refers to uncertainty of outcome, of actions and events (UK Cabinet Office 2002) Risk is a situation or event where something of human value (including humans themselves) is at stake and where the outcome is uncertain (Rosa 1998, 2003) Risk is an uncertain consequence of an event or an activity with respect to something that humans’ value (IRGC 2005). Risk is the effect of uncertainty on objectives (NZS/AU/IS0 31000: 2009)<<< Use this one!! Definition of Risk as per NAS/AU/IS0 31000:2009 Risk is defined as the effect of uncertainty on objectives. This is a widely accepted business definition Uncertainty is an essential element What ‘humans’ value’ is described as a function of the objectives that are at risk of not being achieved (ie. the consequence) and how our organizational stakeholders feel about that consequence Even if managers have different personal perceptions of what is risky, the ISO 31000 definition means that it is a measurable and factual exercise to determine if the organization’s goals are at risk and therefore identify the significant risk The necessary elements of risk as per AU/NZ ISO31000 definition Objectives Uncertainty Consequences Week 3 Week 3 Risk management Architecture Week 3 Identify and explain the three components of the ISO 31000:2009 risk architecture, describe the function of each component and the elements within them. Risk Architecture comprises three elements: ISO 31000:2009