This is the first individual assignment that will start to inform your phased group activity. Using the business scenario information provided by your instructor, each member of the group will identify and prioritize four critical business processes for each business area and perform a risk assessment following the Risk Assessment Form provided by the instructor and as identified by further research.
What is a business area in this scenario? Marketing, Human Resources, Payroll, etc. You are to list these (and you can use your own names or labels), then identify four critical business processes for each area. For example:
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- Creating billing invoices
- Management company financial assets
- Producing financial reports
- Collecting customer payments
After laying out those 4 processes (these are just examples), you will then work through the matrix. Without this, it is hard to just take a generalized business area and provide mitigation steps. So, on your risk assessment spreadsheet, please ensure that you state the business areas and then provide 4 processes for each of these areas. You will then assess the risk for each of the four processes as you traverse across the matrix.
First, take time to read the business scenario that is provided as part of your assignment instructions. You want to look at it from the perspective of identifying business areas and business processes. So, just what does this really mean?
I’m referring to the concept of a business area and a business process. For example, payroll is a business area, and “issue paychecks” is a business process. So, what is a business area in this scenario? Marketing, Human Resources, Payroll, etc. You had to list these (and you can use your own names or labels) and then identify four critical business processes for each of these areas. You will then do your best to fill out the spreadsheet and you will want to take a look at the risk management guide for help. Also, please refer to an “example of risk assessment for consideration” to help guide you.
This assessment will be submitted to each individual’s Assignments folder.
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