Question 1: Outline the purpose and key process elements of the current AS/NZS Standard on risk management.

Question 2: Outline the legislative and regulatory context of organisations in relation to risk management.

Question 3: Explain why it is necessary to determine the scope for the risk management process.

Question 4 Managers must understand the environment or context in which they are conducting their risk management activities. Explain why it is important to review each of the following contexts to identify the scope of the risk management processes:

a)Political

b)Economic

c)Social

d)Legal

e)Technological

f)Policy

Question 5: Explain why it is important to document critical success factors, goals or objectives for the area included in the scope.

Question 6:Explain why it is necessary to review and analyse existing risk management processes, procedures and requirements before updating a risk management plan.

Question 7: Explain why it is necessary to obtain support for risk management activities.

Question 8: List two types of information that a manager could use to research risks that may apply to scope.

Question 9:List two tools and techniques used to generate a list of risks that apply to the scope, in consultation with relevant parties.

Question 10:What are the five possible options for treating risks?

Question 11: List at least four key components of a risk treatment action plan.

Question 12: List at least four reasons risk management documentation needs to be maintained.

Question 13: Explain why it is necessary to evaluate the risk management process.