RISK ASSESSMENT (UBM588): GUIDELINES & TEMPLATE

ODL Assessment
UBM588 (Introduction to Risk and Insurance)
OCT 2020 – FEB 2021 (ODL)

Items Assessment Topics / Chapters Marks

1. GROUP ASSIGNMENT 1 Chapter 1 – 3 30

Report & Video Presentation (10

– 15 minutes)
Risk Assessment on COVID-19
2. GROUP ASSIGNMENT 2 Chapter 4 20

PowToon / Doodle / Creative

Animation Video (10 – 15
minutes)
Benefits and Functions of
Insurance
3. INDIVIDUAL ASSIGNMENT Chapter 6 10

Poster / Infographic Design (1

Page)
Life and Health Insurance

4. TEST Chapter 1 – 4 40

Online Test

Total 50 x 2 = 100
 RISK ASSESSMENT (UBM588): GUIDELINES & TEMPLATE

GROUP ASSIGNMENT 1

RISK ASSESSMENT REPORT

OVERVIEW
Risk assessment is the identification of risks that could negatively impact an organization's ability
to conduct business. These assessments help identify these inherent business risks and provide
measures, processes and controls to reduce the impact of these risks to business operations.

Risk assessment is a term used to describe the overall process or method where you:

 Identify the existing and potential risks that have the potential to cause harm.
 Analyze and evaluate the risk associated with that hazard.
 Determine appropriate ways to eliminate the risk either control or finance the risk when it cannot
be eliminated.

INSTRUCTIONS

1. This is a group project and the students are required to form groups comprising of five (5)
members only.
2. Each group needs to choose one (1) company or business organization and do the risk
survey on their risk exposures.
3. The group needs to write and present final report of the risk survey conducted using the
given format.
4. Use Times New Roman 12 or Arial 11 with 1.5 Spacing and Justified for written report.
5. A margin of 1.25 cm should be allowed on both the left and the right side of the page.
6. Writing should use formal language and correct spelling and punctuation.
7. Pages are to be numbered consecutively.
8. Any report which is deviated from the given formats will be penalized.
9. Any work which is found to be totally plagiarized from any source will be marked as “no
submission”.
10. Assignment submitted late without prior application for an extension or medical evidence
will not be accepted. Extensions are granted only in exceptional cases.
11. The report submission is due on Week 14. Failure to do so will jeopardize the student’s
grade for this subject.
 RISK ASSESSMENT (UBM588): GUIDELINES & TEMPLATE

RISK ASSESSMENT WRITTEN REPORT GUIDELINES & TEMPLATE

1. COVER PAGE

RISK ASSESSMENT REPORT

Faculty :

Program :

Program Code :

Course :

Course Code :

Semester :

Group Name :

Group Members :

Submitted to

…………………

Submission Date

………………..
 RISK ASSESSMENT (UBM588): GUIDELINES & TEMPLATE

2. TABLE OF CONTENTS Page

Number

i. Company Profile
ii. Risk Identification
iii. Risk Evaluation
iv. Risk Management Techniques
v. Conclusion and Recommendations

3. APPENDICES

RISK ASSESSMENT REPORT OUTLINE

i. Company Profile

 Brief description of the company or business organization profile.

 Name
 Logo
 Background
 Organizational Structure
 Products/Services

ii. Risk Identification

 The first step in risk management is risk identification. This step

looks at all pure risks to identify the existing and potential risks.
 Any physical damage to property
 Business interruption losses
 Possibility of liability lawsuits
 Losses arising from fraud, criminal acts and etc.

 Existing Risks

Peril Hazard Loss

Fire Wooden Construction Property damage

Explosion Poor housekeeping Bodily Injury or Death

 Potential risks.

Peril Hazard Loss

Legal Liability Carelessness Lawsuits (fines or

imprisonment)
 RISK ASSESSMENT (UBM588): GUIDELINES & TEMPLATE

iii. Risk Evaluation

 Once the potential risk exposures are identified, the next step is to evaluate
possible losses classified them based on the degree of risks (frequency and
severity).
 The information on the frequency and severity of risk can be established
using verbal structure interviews.
 Table below illustrates some examples for frequency and severity of identified
risks.

Frequency and Severity of Risks

High Frequency Low Frequency

High Severity machinery breakdown fire

Low Severity

iv. Risk Management Techniques

 Based on the table of Risk Matrix below, determine and select the most
appropriate risk management techniques to be applied.
 The selection process includes:
 Risk Avoidance
 Risk Reduction
 Risk Retention
 Risk Transfer
 The selection process will be based on the financial impact on the profitability
of the organization as well as any humanitarian aspects and legal
requirements.

High Frequency Low Frequency

High Severity Risk Avoidance Risk Transfer

Risk Reduction
Low Severity Risk Retention Risk Retention
Risk Reduction

v. Conclusion and Recommendations

 Sum up the main results from the risk assessment findings.

 Recommend the alternative risk management techniques should be adopted.
 Briefly justify your choice, explaining how it will solve the risk exposures.
 This should be written in a forceful style as this section is intended to be
persuasive.
RISK ASSESSMENT (UBM588): GUIDELINES & TEMPLATE