PUB4870 ASSIGNMENT 2 2025
DISCLAIMER: THIS IS NOT AN OFFICIAL GUIDE FROM UNISA. THE REPORT IS
NOT PREPARED NOR APPROVED BY UNISA, RATHER REPRESENTS A
POSSIBLE SOLUTION TO THE TASK CONSISTENT WITH THEORY OF PUB4870.
THIS REPORT IS INTENDED TO ASSIST STUDENTS IN GETTING STARTED WITH
THEIR ASSIGNMENT, AND IN NO CASE THIS DOCUMENT SHOULD BE USED
FOR CHEATING. WE BELIEVE THIS WILL BE A GOOD STARTING POINT AS IT
WAS PREPARED BY OUR TEAM OF PROFESSIONAL PRIVATE TUTORS WHO
ARE EXPERTS IN THE FIELD, AND IT WAS PREPARED USING VARIOUS
SOURCES. ANY SIMILARITY WITH ANY EXISTING THEORY OR DISCUSSION BY
OTHER AUTHORS IS EXCUSED. THE AUTHORS HOWEVER DO NOT CLAIM
MONOPOLY TO KNOWLEDGE HENCE MODIFICATION OF THE ANSWERS
CONTAINED IN THIS FRAMEWORK MAY NOT BE PROHIBITED AS IT
CONTRIBUTES TO EXPANSION OF KNOWLEDGE. FOR ANY FURTHER
GUIDELINE ABOUT THE INFORMATION CONTAINED HERE AND THE MODULE
IN GENERAL, CONTACT PASSMATE TUTORIALS.
WE ASSIST WITH OTHER MODULES INCLUDING:
ECSs, FACs, MACs, MNGs, INTs, TRLs, HMEMS, PRMs, PROs, MNBs, DSC, QMI,
MNMs, MNO, MNPs, FIN, PUBs, MNMs, RESEARCH among others.
WE OFFER CLASSES, ASSIGNMENT GUIDELINES, EXAMINATION
PREPARATION, RESEARCH AND RESEARCH PROPOSALS, DISSERTATION
EDITING etc.
OTHER THAN UNISA, WE ALSO ASSIST STUDENTS AT VARIOUS INSTITUTIONS
INCLUDING MANCOSA, REGENT, REGEYNESES, BOSTON, STADIO, OLG, UJ,
UP etc
For any enquiries the following numbers can be used for calling, sms, whatsapp and
telegram
CONTACT PASSMATE TUTORIALS @061 262 1185/068 053 8213/0717 513 144 or
email
,PUB4870 ASSIGNMENT 2 2025
Table of Contents
Section A: Conceptual Foundations of Risk Management ......................................... 3
Section B: Risk Types and Categories ....................................................................... 5
Section C: Risk Management Process ..................................................................... 11
Section D: Risk Management Techniques and Models ............................................ 18
References ............................................................................................................... 23
, PUB4870 ASSIGNMENT 2 2025
Section A: Conceptual Foundations of Risk Management
Trace the evolution of risk management in the public sector, highlighting key
shifts in approach over time
Risk management in the public sector has evolved remarkably over the years, shifting
from basic, reactive measures to sophisticated, proactive systems that support
governance, accountability, and the strategic success of institutions. Initially, public
sector institutions approached risk through simple avoidance and insurance
mechanisms, focusing largely on financial protection after risks had materialised
(Moeller, 2011). At this stage, risk was seen as an external hazard rather than an
integral part of public management processes.
In the 1970s and 1980s, a more formalised approach began to take shape. Public
bodies, under increasing financial pressure and scrutiny, started adopting risk
identification and assessment frameworks. This era marked the introduction of risk
registers and basic internal controls aimed at improving public accountability (Bromiley
et al., 2015).
In the South African context, risk management emerged relatively recently within the
public service sphere. It is described as a "fairly new" management tool, developed
primarily to promote accountability, prevent corruption, and prevent the wasteful use
of resources (National Treasury, 2010). It has come to be regarded as a fundamental
part of the organisational planning process, enhancing the capacity of institutions to
achieve their goals and deliver services effectively.
A significant turning point in South Africa was the enactment of the Public Finance
Management Act (PFMA) of 1999, which established a legislative framework for sound
DISCLAIMER: THIS IS NOT AN OFFICIAL GUIDE FROM UNISA. THE REPORT IS
NOT PREPARED NOR APPROVED BY UNISA, RATHER REPRESENTS A
POSSIBLE SOLUTION TO THE TASK CONSISTENT WITH THEORY OF PUB4870.
THIS REPORT IS INTENDED TO ASSIST STUDENTS IN GETTING STARTED WITH
THEIR ASSIGNMENT, AND IN NO CASE THIS DOCUMENT SHOULD BE USED
FOR CHEATING. WE BELIEVE THIS WILL BE A GOOD STARTING POINT AS IT
WAS PREPARED BY OUR TEAM OF PROFESSIONAL PRIVATE TUTORS WHO
ARE EXPERTS IN THE FIELD, AND IT WAS PREPARED USING VARIOUS
SOURCES. ANY SIMILARITY WITH ANY EXISTING THEORY OR DISCUSSION BY
OTHER AUTHORS IS EXCUSED. THE AUTHORS HOWEVER DO NOT CLAIM
MONOPOLY TO KNOWLEDGE HENCE MODIFICATION OF THE ANSWERS
CONTAINED IN THIS FRAMEWORK MAY NOT BE PROHIBITED AS IT
CONTRIBUTES TO EXPANSION OF KNOWLEDGE. FOR ANY FURTHER
GUIDELINE ABOUT THE INFORMATION CONTAINED HERE AND THE MODULE
IN GENERAL, CONTACT PASSMATE TUTORIALS.
WE ASSIST WITH OTHER MODULES INCLUDING:
ECSs, FACs, MACs, MNGs, INTs, TRLs, HMEMS, PRMs, PROs, MNBs, DSC, QMI,
MNMs, MNO, MNPs, FIN, PUBs, MNMs, RESEARCH among others.
WE OFFER CLASSES, ASSIGNMENT GUIDELINES, EXAMINATION
PREPARATION, RESEARCH AND RESEARCH PROPOSALS, DISSERTATION
EDITING etc.
OTHER THAN UNISA, WE ALSO ASSIST STUDENTS AT VARIOUS INSTITUTIONS
INCLUDING MANCOSA, REGENT, REGEYNESES, BOSTON, STADIO, OLG, UJ,
UP etc
For any enquiries the following numbers can be used for calling, sms, whatsapp and
telegram
CONTACT PASSMATE TUTORIALS @061 262 1185/068 053 8213/0717 513 144 or
,PUB4870 ASSIGNMENT 2 2025
Table of Contents
Section A: Conceptual Foundations of Risk Management ......................................... 3
Section B: Risk Types and Categories ....................................................................... 5
Section C: Risk Management Process ..................................................................... 11
Section D: Risk Management Techniques and Models ............................................ 18
References ............................................................................................................... 23
, PUB4870 ASSIGNMENT 2 2025
Section A: Conceptual Foundations of Risk Management
Trace the evolution of risk management in the public sector, highlighting key
shifts in approach over time
Risk management in the public sector has evolved remarkably over the years, shifting
from basic, reactive measures to sophisticated, proactive systems that support
governance, accountability, and the strategic success of institutions. Initially, public
sector institutions approached risk through simple avoidance and insurance
mechanisms, focusing largely on financial protection after risks had materialised
(Moeller, 2011). At this stage, risk was seen as an external hazard rather than an
integral part of public management processes.
In the 1970s and 1980s, a more formalised approach began to take shape. Public
bodies, under increasing financial pressure and scrutiny, started adopting risk
identification and assessment frameworks. This era marked the introduction of risk
registers and basic internal controls aimed at improving public accountability (Bromiley
et al., 2015).
In the South African context, risk management emerged relatively recently within the
public service sphere. It is described as a "fairly new" management tool, developed
primarily to promote accountability, prevent corruption, and prevent the wasteful use
of resources (National Treasury, 2010). It has come to be regarded as a fundamental
part of the organisational planning process, enhancing the capacity of institutions to
achieve their goals and deliver services effectively.
A significant turning point in South Africa was the enactment of the Public Finance
Management Act (PFMA) of 1999, which established a legislative framework for sound
