[Date]
MNO3706 Assignment 1
Semester 2 2024
QUESTIONS WITH COMPLETE ANSWERS
, MNO3706 Assignment 1 Semester 2 2024
1. Explain the use the technique used to measure or manage risk. (10)
2. Clarify the fundamental principles of learning. (10)
3. Explain the four (4) step teaching method. (10)
1. Techniques Used to Measure or Manage Risk (10 points)
Risk measurement and management involve various techniques to identify, assess,
and mitigate potential risks. Here are key techniques:
1. Risk Identification:
o Brainstorming: Gathering a group to identify possible risks.
o Checklists: Using pre-defined lists to identify risks.
o SWOT Analysis: Assessing strengths, weaknesses, opportunities, and
threats.
2. Risk Assessment:
o Qualitative Analysis: Assessing the impact and likelihood of risks
using descriptive scales (e.g., high, medium, low).
o Quantitative Analysis: Using numerical values and statistical
methods to assess risks (e.g., probability distributions, Monte Carlo
simulations).
3. Risk Prioritization:
o Risk Matrix: Plotting risks on a matrix based on their likelihood and
impact.
MNO3706 Assignment 1
Semester 2 2024
QUESTIONS WITH COMPLETE ANSWERS
, MNO3706 Assignment 1 Semester 2 2024
1. Explain the use the technique used to measure or manage risk. (10)
2. Clarify the fundamental principles of learning. (10)
3. Explain the four (4) step teaching method. (10)
1. Techniques Used to Measure or Manage Risk (10 points)
Risk measurement and management involve various techniques to identify, assess,
and mitigate potential risks. Here are key techniques:
1. Risk Identification:
o Brainstorming: Gathering a group to identify possible risks.
o Checklists: Using pre-defined lists to identify risks.
o SWOT Analysis: Assessing strengths, weaknesses, opportunities, and
threats.
2. Risk Assessment:
o Qualitative Analysis: Assessing the impact and likelihood of risks
using descriptive scales (e.g., high, medium, low).
o Quantitative Analysis: Using numerical values and statistical
methods to assess risks (e.g., probability distributions, Monte Carlo
simulations).
3. Risk Prioritization:
o Risk Matrix: Plotting risks on a matrix based on their likelihood and
impact.
