ASSESSMENT FEEDBACK
| TO BE FILLED BY THE ASSESSOR | |||
| Assessment types | Marks Awarded | ||
| Executive Summary | |||
| Introduction | |||
| Literature Review | |||
| Application of Theory to Practice | |||
| Developing Risk Management | |||
| Conclusion & Recommendation | |||
| References | |||
| Overall Marks | |||
| Overall Grade | |||
| Faculty Name | |||
| Summative Feedback by Faculty for further improvement | |||
GRADE DESCRIPTORS
| 70% and above (Distinction) | The assignment evaluated is of a high to exemplary standard. The work addresses clearly and articulately the assignment requirements and thus meets and satisfies all the learning outcomes (either well or in an exemplary way). The work demonstrates: clear knowledge; references to appropriate academic literature; analysis; critical evaluation; and originality of argument. It is structured and presented to a high (or exemplary) standard. Referencing conventions are fully observed. |
| 60 to 69% (Merit) | The assignment evaluated is of a good to a high standard. Substantial knowledge, comprehension and analysis is evident throughout. Arguments presented are clear and focussed with a logical structure in place. There is clear evidence of critical evaluation of a wide range of theories/perspectives from academic literature and some independent thought. The work is well-written and addresses well all of the learning outcomes. Referencing conventions are fully observed. |
| 50 to 59% (Pass) | The assignment evaluated is of a fair to good standard. Adequate knowledge, comprehension and analysis is evident throughout. The arguments presented have a logical structure and show some critical evaluation in places, although there may be limited evidence of an independent perspective. There is evidence of some good engagement with some of the appropriate literature. Learning outcomes have been largely met and to an appropriate degree. Referencing conventions are observed. |
| 40 to 49% (Fail/Redo) | The assignment evaluated is of a basic standard. The arguments presented have some logical structure and are supported by academic literature in most cases. The academic literature used is outside of the suggestions made in the module guide but remains limited. Little critical evaluation is evident, and the work tends more widely towards a descriptive style. Learning outcomes have been addressed in a basic but satisfactory way. Referencing conventions are mostly observed. |
| Fail Grades | |
| 30 to 39% (Module retake) | The assignment evaluated is of a limited standard. Limited use of academic literature and as such knowledge and argument is very weak. A simple descriptive style with no evidence of critical evaluation throughout. Over-reliance on simplistic, limited sources. Referencing conventions may not be observed. Some learning outcomes met but in a weak and simplistic way. The work is needs to be developed in greater depth and detail to move to a passable standard at this level of study |
| 29% and Below (Module retake) | The assignment evaluated is of an unacceptable standard. There is little or no evidence of knowledge and understanding that is required at this level. Referencing is inadequate or non-existent. The learning outcomes have not been addressed fully and the work requires significant modification to bring it to a passable standard. |
Enterprise Risk Management
This module provides an introduction to the main areas of Enterprise Risk Management. This module also covers Risk Management processes and strategies. Numerous case studies from various business sectors will illustrate the increasing importance of Enterprise Risk Management.
Learning Outcomes
LO1. Understand and analyse the issues involved in the risk management of an enterprise.
LO2. Critically evaluate organisational imperatives for the Risk management process.
LO3. Examine the relationship between corporate governance, internal control and Risk management
LO4. Critically examine the overall stages of Enterprise Risk management process.
Expectations
- Materials Access
All learning materials are provided in the form of a module kit and can be accessed from the Learning Management system (LMS)
- Learning Hours
Students need to be aware of their commitment requirements in regard to study time. In order to give you an indication of that, we have based the following information on the United Kingdom (UK) Higher Education Quality Assurance Agency guidelines. “The notional learning hours associated with qualifications, programmes and individual units of study are based on a broad agreement across institutions that students can expect to spend 10 hours learning on average in order to gain one academic credit unit” (QAA 2006).
- Re-sit
If you do not secure a pass, please read closely the feedback and speak with your Course leader(s) or faculty. After consulting the feedback, close attention is essential to rework on the areas of weakness, and then resubmit the work at the next opportunity. As per the QAA requirements, only one REDO is allowed where the marks will be capped at a Pass.
- Plagiarism
All forms of plagiarism are taken seriously, and any suspected cases will be investigated thoroughly. If a case is found proven, then the work will be graded as a fail and the case will be reviewed by the academic committee.
- Student appeals
There are no re-evaluations as the marks are graded and internally verified before release. However, as per our appeals policy, a student can make an appeal to the course leader which will be then reviewed by the academic committee (please check our academic policies and procedures manual for more information)
- Assignment submission extensions
Students can apply for extensions via the LMS based on extenuating circumstances (if any) with evidence (proof) as per our extensions policy.
General Guidelines
- Complete the ‘To be filled by the student section’ in the cover page.
- All assignments must be submitted as an electronic document in MS word via the LMS (Use 12 Times New Roman script with 1.5 spacing between lines)
- The results are declared only if the student has met the mandatory attendance requirement of 75% and/or minimum 50 % under extenuating circumstances approved and ratified by the academic committee and the examination board.
- The assignment should not contain any contents with references cited from websites such as ukessays.com, styudymode.com, slideshare.net, scribd.com, Wikipedia but should contain references/citations from credible academic journal and articles.
- Submit the assignment in MS word document with the file name being:
First Name Last Name _ Module Code
Example: John Smith_GM701
Your assignment should meet the following requirements.
Please confirm this by ticking þ the boxes before submitting your assignment
Checklist
| o | I have filled the student Information columns in the coversheet. |
| o | The contents of my assignment have been submitted to Turnitin and I have attached the Turnitin report |
| o | I have strictly followed Harvard Referencing Style and Citations. |
This assignment consists of one task only. For this task, learners are required to prepare a report based on the case scenario given below and by answering the questions given. Learners are encouraged to refer to credible academic sources to analyze concepts. Please note that the slides provided and discussions conducted during lectures are not the only source of information.
Scenario:-Enterprise Risk Management (ERM) report, 100 marks-Maximum 4500 words
You are the newly hired safety professional for a successful and growing organisation. As a safety professional we are taught to first identify the hazards and then develop methods to control them, implement the controls, and monitor the results. Under a traditional approach our concern might be limited to preventing workplace injuries and illness claims. Under an Enterprise Risk Management model, we would still be concerned with claims, but would analyze the hazards considering the additional types of risk listed above. From a reputational risk standpoint, an illness claim in which a person dies would most likely result in negative national media attention which would most likely adversely affect sales. While insurance may cover the actual claim costs, the negative press could impact the organization’s ability to fulfil its vision, thwart expansion into new markets, or even jeopardize its ability to stay in business. The development of a robust safety program will not only help prevent this type of claim from occurring, but if a claim was to occur, it will help mitigate the impact on the organization’s reputation. The above example illustrates that while some may see safety regulations as “just another regulatory compliance program,” an organization has a strong incentive to allocate resources to it that go beyond minimum compliance efforts when the program is viewed from an ERM perspective. The challenge safety professionals face lies in demonstrating how their activities support the overall mission and strategic objectives of the organization.
For the above scenario, you are asked to choose any organisation (real and existing) which fits the description and develop an ‘Enterprise Risk Management report’ (by answering the questions given below) to highlight Risk based safety programs and all relevant aspects of risk management. This is done in an effort to make your safety team fully understand their roles in Enterprise Risk Management and traditional risk management.
Suggested resources:-
- Stevens, J. F., & Bamber, L. (2007, January 1). Enterprise Risk Management for the Safety Professional. American Society of Safety Engineers.
- Young, E.J., 2013, January. Risk Managers are from Mars, Safety Professionals from Venus: The Safety Professional’s Role in ERM. In ASSE Professional Development Conference and Exposition. American Society of Safety Engineers.
You MUST follow the Project Report format, which should contain the following sections:
- Executive Summary: You should summarize your Enterprise Risk Management report briefly (no more than one page of A4 paper). [7 Marks]- Max 300 words
- Introduction: You should provide a brief introduction on the role of safety in mitigating operational, strategic and reputational risks and explain why risk and safety managers need to collaborate in identifying and controlling risk exposures. [8 Marks]- Max 450 words
- Literature Review: You should conduct a review of relevant academic literature using at least 6-8 articles taken from reputed research journals/ article publications, as well as in addition consider any other secondary literature reports, company data/ any other relevant data, to critically analyze the available literature. The literature review should be based on:
- An analysis on the current issues involved in Risk Management in the industry based on which your chosen organisation operates. [8 marks]- Max 400 words
- A critique on the traditional barriers to risk based safety programs. [12 marks]- Max 600 words
- Application of theory to practice: You need to compare actual practices in the case study organisation with the key academic thinking established in the review of literature. It may point out similarities and differences, agreements and contradictions, arguments and counter arguments, and suggest explanations for these relationships. The focus of this section needs to be: –
- Evaluate the factors and trends that define your chosen organisation’s imperative to change and explain their relevance in implementing risk based safety programs in your chosen organisation [8 Marks]- Max 400 words
- Apply the RMA’s Enterprise Risk Management framework to your chosen organisation and examine the relationship between corporate governance, internal control and the various ERM competencies as applied to your chosen organisation. [12 Marks]- Max 600 words
- Developing Risk Management
Using the template given below, develop a risk management plan listing at least 6 Key change/Issues relevant to your chosen company and other than the ones listed in the template.
- Explain each change elaborating potential effect & risks. Specify the additional controls needed to ensure successful to implement the change. You may mention the job title responsible for action and explain the reason. . [15 Marks]-Max 750 words
- Describe the relationship between the key change and focus on the sequence to be adopted for the change. . [10 Marks]-Max 500 words
- Conclusions and Recommendations: You should summarize the main findings, including their implications, and provide recommendations that directly relate to your analysis. [10 Marks]-Max 500 words
References: You should use the Harvard Referencing System (HRS) correctly throughout in your report. [10 Marks] (No word count)
(START WRITING YOUR ANSWER FROM THE NEXT PAGE…..)
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