Ontemporary Risk Management Climate Change

Contemporary Risk Management Climate Change

Length: 2500 words

Weighting: 25%

Objectives: 1 and 3

Identify and thoroughly research an emerging risk that requires a risk management approach.
The issue should be a strategic-type topic that has the potential to impact on the community as a whole. It should be discussed in a holistic context from the perspective of financial, human resource, political, property considerations, etc. (Try to avoid focusing on occupational health and safety issues.) You should concentrate on the nature of the risk at this stage you are not required to concern yourself with how it should be managed.
To assist you, examples could be:
” Climate change
” Changes to Industrial Relations legislation
” Privatisation of the public sector.
These are only examples and you should feel free to choose an area that is of particular interest to you.
Your discussion should be supported with references and you views related to how the risk will or could impact on the community or general business sector. Include in your discussion how the issue will impact on risk managers in the future.

You must use the Harvard style for referencing.


1. Choosing a Topic

Remember that the emerging risk that you choose needs to be a strategic one that has the potential to impact on the community as a whole. Avoid OH&S type topics. Some examples provided were climate change, changes to industrial relations legislation and privatisation of the public sector. Past students have also focused on evolution of fraud, pandemic influenza, and water restrictions. Complexity of corporate governance and compliance would also be an interesting topic.

In choosing a topic, I always look forward to a paper which discusses a topic that no else has explored. 50 papers on the same topic can be a bit draining to mark. However, when choosing a topic ensure there are plenty of references to back up your arguments. You don t want to pick a topic which you can only find 3 research papers on.

2. What to Write About

Quality of description of risk
Your assignment should provide the reader a clear description of what the emerging risk is, backed up by a number of references. Don t go into detail about what a  risk is or what  risk management is. Your description should also discuss what aspects of the emerging risk you will not be focusing on.

Through out your paper, you should discuss the emerging risk in a holistic context. Discuss the topic through different perspectives of financial, human resources, political, economy etc. This will show that you have broadly examined the emerging risk and how it impacts on these different perspectives.

How it will impact on risk managers
The best way I have seen this addressed is for every argument you state, back it up with a reference or two and then briefly discuss how this would impact on risk managers. This method seems to work better rather than having a whole dedicated section on this topic. This is because the arguments are fresh in the reader s mind and it is clear that you have thought about how this will impact on risk managers.

3. Assignment Format

In this paper you are presenting an argument convincing the reader that the topic you have chosen is an emerging risk. A good argument always presents two sides  for and against. Below is a suggested format to use.

Always use clear headings and paragraphs. This shows the reader very quickly the structure of the paper and it makes it easier to read. You must use the Harvard style for referencing. As a rule of thumb for 2500 words, use roughly 10 references with at least no more than 3 of them being older than 5 years.

a) Introduction  100 words
Basically what is your paper about and what will it examine.

b) State your argument  1 sentence
Should be in bold, clear to see and easy to understand ie.  This paper will examine why fraud is an emerging risk and how it will impact on risk managers . The reader does not want to read 3 pages before finding out what the topic is about.

c) Define the emerging risk  570 words
As discussed above. Provide the reader a clear understanding of what is the risk you will be examining and what aspects of the risk you will not be examining. Don t discuss why it is emerging at this stage. If you are discussing that fraud is an emerging risk, first tell me what fraud is.

d) Discuss for your argument  570 words
Discuss why this risk is emerging. Examine the topic from different perspectives and how it impacts risk managers. Back up each argument with a number of references. Past statistics and studies are always good.

e) Discuss against your argument  570 words
As mentioned, a good argument presents two sides. Discuss why this risk is not emerging using a number of references. For example, fraud is not a new risk. It has been around since the beginning of commerce.

f) Counter argue  570 words
In this section, you need to address the arguments you raised of why this risk is not emerging. The objective is to convenience the reader that this is an emerging risk. Continue backing up each argument with a number of references and always discuss how it will impact on risk managers.

g) Conclusion  100 words
Should summarise your arguments to a conclusion. Don t raise any new points.
Managing risk in organizations : a guide for managers / J. Davidson Frame
Australian Standard for risk management (AS/NZS 4360:2004)