Risk assessment

In this lesson

1. 0:00 Risk assessment overview
2. 0:09 How risk varies by organisational structure
3. 1:47 Size and industry factors in risk
4. 3:32 Development stage and risk profile
5. 4:43 Dynamic nature of risk
6. 6:32 Risk mapping and assessment
7. 7:09 Probability and impact explained
8. 8:38 Subjectivity challenges in risk assessment
9. 10:21 Tools for quantifying risk

About this lesson

The video explores how risk varies across organisations based on structure, size, industry, and stage of development, then introduces the dynamic nature of risk and why it changes over time. You'll discover practical tools for mapping and prioritising risks, particularly the probability and impact approach, which combines likelihood and severity to help you understand which risks matter most. The lesson walks you through real-world examples of how centralised versus decentralised structures create different risk profiles, how small businesses face different vulnerabilities than large multinationals, and how regulated industries like financial services encounter compliance risks that technology-driven sectors don't. You'll also learn why risk assessment involves some subjectivity—and how to justify your judgements using available information—plus the strengths and limitations of quantifying risk through tools like expected monetary value analysis and sensitivity testing. By the end, you'll understand that there's no one-size-fits-all risk profile. Instead, you'll be equipped to think critically about an organisation's specific context and recognise how risks shift as circumstances change. This foundation prepares you to handle risk assessment questions confidently in case study exams, where you'll need to identify, evaluate, and recommend strategies for managing the risks a business actually faces.

Duration: 12m