An information booklet providing guidance and explanation on research Coursework

An information booklet providing guidance and explanation on research techniques and methodologiesdesign suitable for an area of professional practice - Coursework Example Risk analysis and risk assessment are concepts that are interchangeable and they form the basis of risk management. It's an ongoing process where: Assets are identified and valued. Vulnerabilities associated with an asset are identifiedand their severity is assessed. Threats are identified and chances of their occurrenceare assessed. The threat and vulnerability relation isexamined which might result in the manifestation ofany risk. Policies are used in accordance with the impact of thisrisk manifestation. Existing controls are defined and corrective actions areproposed so that the impact of any risk is reduced to thelevel that can be accepted for a particular environment. So Risk Management can be defined as a continuous process of planning, implementation of those plans , promoting awareness and monitoring of security measures to mitigate, transfer, eliminate or control to an acceptable level. Various objectives of the risk management process include: The aim of risk management is "reduce business exposure by balancing counter measures investment against risk"(Birch&McEVOY,1992;45) The purpose of risk management is "to minimise the expected loss"(Suh &Hun,2003:150). The goal of risk management is "select risk mitigation, risk transfer and risk recovery measures so as to optimise the performance of an organization"(Jacobson,2002;1) IMPORTANCE OF RISK MANAGEMENT It is easy to manage an organisation when all things are at its place, but during crucial times of risk management, the job becomes tough. Then comes the tough managerial Decision Making. Cooperation is required in such times from all the sectors of the company. Treating risks after...Both the words sound daunting, but they have simple meanings in the field of research. Epistemology can be defined as the "study of knowledge and justified belief" .When epistemology is considered as" the study of knowledge", it is concerned with questions like: what are the sources of knowledge what are the conditions of knowledge What are the structure and limits of knowledge. When it epistemology deals with ' justified belief", it asks questions like what makes beliefs justified Whether justification is external or internal to one's mind to sum it up, Epistemology deals with the creation ok knowledge and dissemination of knowledge. "Any research can be affected by different kinds of factors which, while extraneous to the concerns of the research, can invalidate the findings" (Seliger & Shohamy 1989, 95).The primary responsibility of any good researcher should be controlling the factors that might hamper the validity of a research. This map draws the metaphor of a journey through the road which shows how research is similar to a journey that begins from conceptualisation and the aim and ultimately the journey ends at the conclusion. To achieve expertise in Risk management for..,the research approach, application and the appropriate research questions are vital.