Risk Management

Group Coursework – Qualitative Risk Assessments

Qualitative Risk Assessment - Critique
• The purpose of the course work is to conduct a critique of the
qualitative risk assessment process using a particular case study.
• We want to explore how the assessment is conducted – or how it
should be conducted. What is best practice with regards to the
process?
• What should we expect from the outcomes? Does a good risk
assessment guarantee a successful outcome?
• Does it ensure that an organisation (or project) achieves its
objectives?
Risk Register
• A key output from a Qualitative Risk Assessment is normally the Risk
Register.
• This is a table of the significant risks that have been identified –
including various information such as the likelihood and potential
impact of each risk.
• So how accurate, reliable and useful is that risk register?
• There are a number of questions we want to ask about the RA
process:
Risk Register
• There are a number of questions we want to ask about the RA
process:
• How difficult is it to compile a good risk register?
• What skills and knowledge do the members of the team need?
• How long does it take?
• Have we identified all the significant risks?
• Do risk averse people identify more risks than risk seekers?
• Does everyone agree on the likelihood and impact factors?
• How do we measure a successful outcome?
Preliminary Work
• The coursework is to be conducted in small groups (4 or 5)
• Once you have agreed your group members - or are having problems
finding a group - please let me know.
• You should all start with some background reading about risk
assessments, risk registers and case studies.
• Each group should choose their own case study. It is probably best to
check with me that your case study is suitable.
Weeks 1-4
• You should begin by working individually. Don’t discuss your results in
detail with other group members until later.
• Each week you should be developing a risk register for the case study.
• Week 3’s lecture is about methods and techniques for risk
identification.
• Week 4’s lecture will focus on likelihoods and impacts.
• There should probably be at about 10 to 15 risks on your register.
• You only need the core fields for the register.
Weeks 4-6
• You should now work in your group to compare and contrast what
you have come up with individually.
• When you are comparing your results, you should ask:
• How many risks were there on each register?
• How similar was each list of risks?
• How technical/specialist do you think those risks were?
• You then want to try and compare likelihoods and estimates.
• You may want to rationalise your list of risks before you do this
Submission Document (2)
• All submissions should be, where possible in word file
• All submissions should have a cover page and a contents page
• Make sure the names and banner numbers of all members are on the
cover of the submitted work – no names/banners: no marks
• Only submissions in the “Final Qualitative Group Work” submission
point will be marked. Ensure you submit at the right AULA site and
right submission point
Summary
• Please read the instructions carefully.
• Manage your time carefully – individually and as a group.
• Submit on time and on the right location
• Do not forget the names of the members!!!