Value:30%
Strategy:Preparing a Board Report with your existing framework
Evaluators:Instructor
Time Commitment:6 – 12 hours to complete
Overview
The purpose of this assignment is to have you practice developing an ERM board report for senior leaders in an informative and concise manner. Real data has to be showcased and there is no room for filler information or words.
Learning Outcome
- Apply appropriate risk management framework for the organization
- Utilize risk management tools and techniques to identify, assess, manage, and monitor risks
- Create a risk management report to support the organization’s management
Directions
Step 1 – Analyze all 15 risks presented and use a risk register to formulate the top material risks.
Analyze all of the risks provided (all 15). Do not cut and paste the risks from the List of Risk (describe the risks in your own words). Show your risk analysis in the board report. List the TOP risks (at least 5) that are material to the board and provide a comprehensive description of the risk and state how it will impact St. Mary's University and provide risk controls for the top 5 risks. Do not provide risk controls on the risks that are not material to the University. Note, make sure you have values (times and dollars) on the x and y axis of your heat map (a scale on your risk register and heat map). These should match the values on your risk register. Review the Risk Register video in the course make sure you have all of the correct elements in your risk register and heat map.
Click below to get the list of risks that may be used for the Board report. Similar to the risks you used earlier.
Step 2 - Write the report, as the risk manager, as if you are writing it for the Board of a University.
It must be complete, clear, concise, and must not reference other materials that the Board has not seen. You may make assumption, but you must list your assumption in the Board report or in the risk register. The expectation is that you will have a risk register with all 15 risks analyzed and graded and the top risk details will be expanded in the board report as its own paragraphs. All 15 risks will be placed in the heat map (make it look good) and the top risks will of course be in the top right quadrant (red zone) of the heat map. Identify the risks in the heat map with a name (do not use numbers).
Use the framework that you developed in assignment #2 to inform what information should be in the board report. You will need to describe what you will be doing with all of your board report headings. You will need to describe the risks, as well as the category of risk (as a minimum you must show one strategic, operations, finance and hazard risk) to the University in your board report, suggest ways to manage the risk and in some circumstance you will be able to recommend insurance as a risk finance measure but not in all cases!
You will need to put your material (TOP) risks (at least 5) on the dashboard (only the top risks make it to the dashboard) and you are expected to put all 15 risks on your heat map – which will show the risks with the greatest impact in the top right corner of the heat map. You will need to assess the frequency and severity of all 15 risks.
10 – 15 Page report, double spaced, 11 Point Times New Roman, in a word document format. You may add an excel risk register as an appendix in a separate document. You may embed information in your report (excel spreadsheet, pictures, etc.) but it must be in Word. Make sure you format your Board Report so that it looks good for the reader.
Make sure you have a cover page and put your name on the report.