Question 2

Any risk management process starts with planning and is then followed by the risk assessment process.

2.1 Discuss at least 5 inherent risks that should have been identified during the risk assessment process? Students must clearly specify the risk identifier, risk category, risk description, risk cause and effect. (10 MARKS)

Students must tabulate their responses and the table below must be used to populate their responses. Risk identifier Category Description Cause Effect

2.2 Using the risk register in the previous section, conduct a qualitative risk analysis for these 5 risks by proposing the probability of occurrence and impact for each risk? (10 marks)

The risk matrix included in appendix 1 must be used to rate the inherent identified risks and students must discuss the chosen probability and impact. The table below should be used to show your response.

2.3 Using the risk matrix included in appendix 1, plot the inherent risks on a heat map and discuss what the map means?

3.1 Using the table below, propose the most appropriate risk responses for each of the risk identified in question 2.1. If any of the risks are not acceptable, then propose sufficient (more than 1 if needed) controls to make them tolerable (acceptable). (10 marks)

Risk identifier Category Description Cause Effect Rating Response Category Control 1 Control 2

3.2 Discuss how the level of confidence can be illustrated on a risk matrix? (5 marks

3.3 With aid of an appropriate diagram, show the impact of the various controls on the inherent risks identified in question 2.1 using the level of confidence methodology? (10 marks)

Question 4 Risk Management Framework

4.1 Classify the control category for each control discussed in the question 3.1 and justify your response? (5 marks)

Tabulate your responses.

4.2 Propose a Risk Management Framework that could be implemented at the Nuclear Facility? (20 marks)