RSK2601
ASSIGNMENT 1 SEMESTER 2 2025
UNIQUE NO.
DUE DATE: 28 AUGUST 2025
, RSK2601 – Assignment 1 (Semester 2, 2025)
Due Date: 28 August 2025
Section A: Challenges in Implementing ERM at Ubuntu Holdings
1. Resistance to Change
Employees and middle management may resist new risk frameworks due to
comfort with legacy processes and fear of accountability.
2. Lack of Risk Awareness
Without structured training, staff may not correctly identify or escalate risks,
leading to gaps in risk visibility.
3. Implementation Costs
ERM often requires investment in risk software, training, and hiring specialists,
which may strain limited budgets.
4. Regulatory Complexity
The mining sector is subject to stringent safety, environmental, and labour
regulations, complicating ERM integration into operations.
5. Integration with Strategy
Risk management may be seen as a compliance function rather than a strategic
enabler, hindering its adoption into core business decision-making.
Mitigation Strategies:
Deploy comprehensive training and awareness campaigns to embed risk
thinking.
Secure top leadership commitment to reinforce the "tone at the top."
Implement ERM in phases—start with high-risk areas and expand gradually.
Align ERM design with internationally recognised standards like ISO 31000 and
COSO for streamlined compliance and clarity.
Establish clear risk ownership and accountability across departments.
ASSIGNMENT 1 SEMESTER 2 2025
UNIQUE NO.
DUE DATE: 28 AUGUST 2025
, RSK2601 – Assignment 1 (Semester 2, 2025)
Due Date: 28 August 2025
Section A: Challenges in Implementing ERM at Ubuntu Holdings
1. Resistance to Change
Employees and middle management may resist new risk frameworks due to
comfort with legacy processes and fear of accountability.
2. Lack of Risk Awareness
Without structured training, staff may not correctly identify or escalate risks,
leading to gaps in risk visibility.
3. Implementation Costs
ERM often requires investment in risk software, training, and hiring specialists,
which may strain limited budgets.
4. Regulatory Complexity
The mining sector is subject to stringent safety, environmental, and labour
regulations, complicating ERM integration into operations.
5. Integration with Strategy
Risk management may be seen as a compliance function rather than a strategic
enabler, hindering its adoption into core business decision-making.
Mitigation Strategies:
Deploy comprehensive training and awareness campaigns to embed risk
thinking.
Secure top leadership commitment to reinforce the "tone at the top."
Implement ERM in phases—start with high-risk areas and expand gradually.
Align ERM design with internationally recognised standards like ISO 31000 and
COSO for streamlined compliance and clarity.
Establish clear risk ownership and accountability across departments.
