Question: 13. How do you assess the impact or consequence if risks occur ?Please ensure you include the consequence scale in your response with a description

13. How do you assess the impact or consequence if risks occur?Please ensure you include the consequence scale in your response with a description of each of the 5 categories e.g insignificant, minor etc.

14. What do you need to consider when you evaluate and prioritise risks for treatment?Please ensure you include a) how you use a risk matrix and b) a description of the typical risk categories you use when evaluating the likelihood and level of impact for the risks.

15. As a manager you need to determine and select the most appropriate options for treating risks.There are 5 options, describe what they are and provide an example.

16. What do you need to include when developing a risk treatment action plan for implementation? Refer to this link to see the many examples of a Risk Treatment Action Plan.

17. What do you need to consider when communicating risk management processes to relevant parties?

18. How do you ensure all the documentation is in order and appropriately stored?Please ensure you explain a) why documents need to be kept, b) why they need to be retained or destroyed and c) what are some storage options.

19. What are the 5 key steps when implementing and monitoring the action plan?Explain briefly each of these steps.

20. When evaluating the risk management process, there are 3 different approaches to evaluation and 6 different data collection methods.Can you briefly describe each of these?

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