[Company name]
MNO3706
Assignment 1
Semester 2
2024
QUESTIONS WITH 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
Risk measurement and management involve various techniques to identify, assess, and
mitigate risks. Here are some common techniques:
1. Risk Assessment Matrix: This tool evaluates the likelihood and impact of risks,
often presented in a matrix format. It helps prioritize risks based on their potential
effect on the project or organization.
2. SWOT Analysis: This technique assesses Strengths, Weaknesses,
Opportunities, and Threats to understand internal and external factors that could
impact objectives.
3. Quantitative Risk Analysis: Techniques like Monte Carlo simulations, decision
tree analysis, and sensitivity analysis use numerical data to estimate the
probability and impact of risks.
4. Qualitative Risk Analysis: This involves evaluating risks based on their severity
and likelihood using non-numeric criteria, often through expert judgment,
interviews, and focus groups.
5. Risk Registers: A risk register is a document that lists all identified risks, their
severity, and the actions to mitigate them. It is an essential tool for tracking risk
management efforts.
MNO3706
Assignment 1
Semester 2
2024
QUESTIONS WITH 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
Risk measurement and management involve various techniques to identify, assess, and
mitigate risks. Here are some common techniques:
1. Risk Assessment Matrix: This tool evaluates the likelihood and impact of risks,
often presented in a matrix format. It helps prioritize risks based on their potential
effect on the project or organization.
2. SWOT Analysis: This technique assesses Strengths, Weaknesses,
Opportunities, and Threats to understand internal and external factors that could
impact objectives.
3. Quantitative Risk Analysis: Techniques like Monte Carlo simulations, decision
tree analysis, and sensitivity analysis use numerical data to estimate the
probability and impact of risks.
4. Qualitative Risk Analysis: This involves evaluating risks based on their severity
and likelihood using non-numeric criteria, often through expert judgment,
interviews, and focus groups.
5. Risk Registers: A risk register is a document that lists all identified risks, their
severity, and the actions to mitigate them. It is an essential tool for tracking risk
management efforts.
