ISR3701
Assignment 1 Semester 1 2025
Detailed Solutions, References & Explanations
Unique number:
Due Date: April 2025
QUESTION 1
Risk management is the process of identifying, evaluating, and controlling risks that could lead
to financial or operational losses. It is a systematic approach used by businesses and
individuals to minimize uncertainties and potential threats while maximizing opportunities. Risk
management goes beyond simply purchasing insurance; it involves a broad strategy to handle
all possible risks, both insurable and non-insurable.
Risk management is essential in both business and personal settings. It ensures that
organizations can anticipate potential risks, assess their impact, and implement strategies to
reduce or eliminate them. The process involves three key steps:
1. Risk Identification – Recognizing potential threats that could lead to financial or
operational losses.
Terms of use
By making use of this document you agree to:
Use this document as a guide for learning, comparison and reference purpose,
Terms of use
Not to duplicate, reproduce and/or misrepresent the contents of this document as your own work,
By making use of this document you agree to:
Use this document
Fully accept the consequences
solely as a guide forshould you plagiarise
learning, reference,or and
misuse this document.
comparison purposes,
Ensure originality of your own work, and fully accept the consequences should you plagiarise or misuse this document.
Comply with all relevant standards, guidelines, regulations, and legislation governing academic and written work.
Disclaimer
Great care has been taken in the preparation of this document; however, the contents are provided "as is" without any express or
implied representations or warranties. The author accepts no responsibility or liability for any actions taken based on the
information contained within this document. This document is intended solely for comparison, research, and reference purposes.
Reproduction, resale, or transmission of any part of this document, in any form or by any means, is strictly prohibited.
Assignment 1 Semester 1 2025
Detailed Solutions, References & Explanations
Unique number:
Due Date: April 2025
QUESTION 1
Risk management is the process of identifying, evaluating, and controlling risks that could lead
to financial or operational losses. It is a systematic approach used by businesses and
individuals to minimize uncertainties and potential threats while maximizing opportunities. Risk
management goes beyond simply purchasing insurance; it involves a broad strategy to handle
all possible risks, both insurable and non-insurable.
Risk management is essential in both business and personal settings. It ensures that
organizations can anticipate potential risks, assess their impact, and implement strategies to
reduce or eliminate them. The process involves three key steps:
1. Risk Identification – Recognizing potential threats that could lead to financial or
operational losses.
Terms of use
By making use of this document you agree to:
Use this document as a guide for learning, comparison and reference purpose,
Terms of use
Not to duplicate, reproduce and/or misrepresent the contents of this document as your own work,
By making use of this document you agree to:
Use this document
Fully accept the consequences
solely as a guide forshould you plagiarise
learning, reference,or and
misuse this document.
comparison purposes,
Ensure originality of your own work, and fully accept the consequences should you plagiarise or misuse this document.
Comply with all relevant standards, guidelines, regulations, and legislation governing academic and written work.
Disclaimer
Great care has been taken in the preparation of this document; however, the contents are provided "as is" without any express or
implied representations or warranties. The author accepts no responsibility or liability for any actions taken based on the
information contained within this document. This document is intended solely for comparison, research, and reference purposes.
Reproduction, resale, or transmission of any part of this document, in any form or by any means, is strictly prohibited.
