Question: risk modelling refers to the total quantification of all risks, explicit and implicit to understand the true nature and impact of said risks. (Rees, 2015)

risk modelling refers to the total quantification of all risks, explicit and implicit to understand the true nature and impact of said risks. (Rees, 2015)

Question 1.1

Differentiate between the aggregate risk register approach and full risk models. (8 marks)

Question 1.2

Summarise the benefits of risk modelling.

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