Chapter 3- Principles And Practices Pt 2

Question 1

People risk- the biggest risk to a business. But explain the different risks.

Crimp-describe them.
Sea, management types

Answer 1

C- competence.          
R- reward.                    
I- integrity.                    
M- motivation
P- purpose

Supportive
Educational
Administrative

Question 2

Performance management methods.

Explain and give benefits of balanced scorecard.

Answer 2

Can’t measure performance on one area, need more dimensions for balanced approach.

F- financial (mi)
L-learning (development)
I- internal processes (measures)
C-customer (feedback/complaints)

Question 3

Explain hard and soft measures.

Answer 3

Hard- MI/ complaints/ comparisons/

Soft- client feedback/360 feedback/ peer feedback/ behaviours.

Question 4

Explain the 4 stages of the risk management cycle?

Answer 4

I- identification
M- measure
M-mitigate
M-monitor/report