Unit code: T/650/5659 : Organisational and Environmental Risk

RQF level: 7

Unit Aim

The aim of this unit is to help learners develop knowledge and understanding of the importance of managing risks in business organisations and enable them to develop an effective risk management plan and review risk financing options.

Learning Outcomes and Assessment Criteria

Learning Outcomes When awarded credit for this unit, a learner will:	Assessment Criteria Assessment of this learning outcome will require a learner to demonstrate that they can:
1 Understand the effects of risks on business organisations.	1.1 Assess the impact of various types of risk on businesses. 1.2 Evaluate the activities which are high risk of different sectors in the economy.
2 Understand the role of risk management functions in organisations.	2.1 Assess the role and importance of risk management in organisations. 2.3 Evaluate the role of business functions in risk management. 2.3 Evaluate the effectiveness of various approaches to risk assessment and management in organisations.
3. Be able to prepare an effective risk management plan followed by an environmental screening.	3.1 Assess an organisation’s activities to determine the potential for risks. 3.2 Evaluate the possible impact to an organisation of identified risks. 3.3 Evaluate the strategic benefits to an organisation of an effective risk. 3.4 Prepare a risk management plan by an environmental screening to help mitigate potential risks.
4. Understand risk control techniques.	4.1 Assess the most frequent kinds of hazard controls. 4.2 Assess the suitability of a variety of risk financing solutions available to an organisation. 4.3 Review the best risk financing options for an organisation of your choice.