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identify and assess the risks an organisation can face in implementing…

- - - - Risk treatment
        Different options to treat risk
        
        Eliminating the risk;
        
        Accepting the risk and ‘taking a chance’;
        
        Acting to reduce the potential negative consequences of the risk (through control and procedures)
        
        Transfer the risk, completely or partially, to another party ( e.g. joint venture)
      - table 5.3!!!!!!!!!!
      - Ongoing monitoring:
        Risk management is an ongoing process. Existing control measures will need to be continually monitored for their relevance and effectiveness, and changed if required. The risk assessment process enables the strategist to draw together information from the external and internal analyses then summarise and communicate the risks that were identified.
      - Business analytics can be used to assess risk in strategic options:
        
        Analyse external and internal data to discover patterns: e.g. in business transactions, customer surveys, competitor analysis, and macroeconomic statistics
        
        Identify patterns in data
        
        Assess probability of certain ‘risk events’ and their likely outcome (impact) if this occurs.
      - Quantifying costs and benefits, and ‘What-if’ analysis
        CWT
        
        CWT!!!!!!!!!!!
  - - - Rachel risk assessment
        
        1.
        
        identifying risks!!!!!!
        
        CPCBITS
        
        5.
        
        inherent risk table!!!!!!!!!!
        
        4.
        
        At this stage, you should assess the likelihood that the organisation will be exposed to each specific risk, considering such factors as:
        anticipated frequency;
        the external environment;
        the procedures, tools, skills currently in place;
        staff commitment, morale, attitude; and
        history of previous events.
        
        There are five commonly used categories of the likelihood of each risk.
        Almost certain—the event is expected to occur in most circumstances.
        Likely—the event will probably occur in most circumstances.
        Possible—the event might occur at some time.
        Unlikely—the vent could occur at some time, but only in exceptional circumstances.
        Rare—the event may occur only in exceptional circumstances.
        ALPUR
        
        2.
        
        3.
        
        table 5.4