Qualifi Level 7 Unit DRM704 Assignment Brief 2026
| Qualification | Level 7 Diploma in Risk Management (610/2175/1) |
| Unit Reference Number | T/650/5659 |
| Unit Code | DRM704 |
| Unit Title | Organisational and Environmental Risk |
| Unit Level | 7 |
| Number of Credits | 20 |
| Total Qualification Time (TQT) | 200 hours |
| Guided Learning Hours (GLH) | 100 hours |
Unit Aim
The aim of this unit is to help learners develop knowledge and understanding of the importance of managing risks in business organisations and enable them to develop an effective risk management plan and review risk financing options.
Learning Outcomes and Assessment Criteria
| Learning Outcomes
When awarded credit for this unit, a learner will: |
Assessment Criteria
Assessment of this learning outcome will require a learner to demonstrate that they can: |
| 1 Understand the effects of risks on business organisations. | 1.1 Assess the impact of various types of risk on businesses. |
| 1.2 Evaluate the activities which are high risk of different sectors in the economy. | |
| 2 Understand the role of risk management functions in organisations. | 2.1 Assess the role and importance of risk management in organisations. |
| 2.3 Evaluate the role of business functions in risk management. | |
| 2.3 Evaluate the effectiveness of various approaches to risk assessment and management in organisations. | |
| 3. Be able to prepare an effective risk management plan followed by an environmental screening. | 3.1 Assess an organisation’s activities to determine the potential for risks. |
| 3.2 Evaluate the possible impact to an organisation of identified risks. | |
| 3.3 Evaluate the strategic benefits to an organisation of an effective risk. | |
| 3.4 Prepare a risk management plan by an environmental screening to help mitigate potential risks. | |
| 4. Understand risk control techniques. | 4.1 Assess the most frequent kinds of hazard controls. |
| 4.2 Assess the suitability of a variety of risk financing solutions available to an organisation. | |
| 4.3 Review the best risk financing options for an organisation of your choice. |
Indicative Content
- Drivers, Strategic risks (e.g. competition, changes in society or markets), financial risks (e.g. liquidity, foreign exchange, credit risk), operational risks (e.g. product failure), hazard risks (e.g. natural Disasters), information risks (e.g. computer hacking). Operations: Identifying risks in business operations
- High risk areas • Data, systems integrity, reputation, financial theft, health and safety. Risks vary between organisations in different sectors e.g. primary – importance of mitigating risks associated with health and safety.
- Functions that have a role in managing risk • Strategic planning, marketing, compliance operations, legal and accounting, insurance, treasury/accounting, management and quality assurance, internal audit, health and safety, environmental.
- Risk management process • Risk assessment, risk reporting, decisions, risk treatment, residual risk reporting, monitoring – ongoing and formal audit, modification. Potential risks
- Uncertainty in profits e.g. legal issues, market trends, stock market fluctuations, increase in production costs, changing trends and fashions, inadequate forecasting.
- Danger of loss e.g. natural disasters such as floods and earthquakes, technology failures, physical factors such as machine failure, fire, theft; personnel issues such as strikes, talent management
- Events e.g. political factors such as change of government, compliance and regulations, global incidences, security breaches.
- Business impact analysis.
- Analysing level of risk (consequence x likelihood), rating risks e.g. severe, high, moderate, low Risk management plan.
- Prevention, preparedness, response, recovery. Preventive, corrective, directive and detective.
- Risk financing options.
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