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CMI Unit: 708 Strategic Risk Management

The CMI Unit 708 Strategic Risk Management is designed to provide a comprehensive understanding of risk management strategies within an organisational context. This unit enables learners to develop advanced competencies in identifying, assessing, and mitigating risks that could impact strategic objectives. The unit covers key areas such as risk identification, leadership approaches in risk management, and the development of robust risk management frameworks.

Strategic risk management is a vital component of effective leadership and governance. The unit emphasises how organisations can proactively manage uncertainties and create contingency plans to minimise disruptions. Learners will explore how leadership plays a pivotal role in fostering a risk-aware culture and ensuring resilience in a dynamic business environment.

The CMI Unit 708 is particularly beneficial for senior leaders, executives, and aspiring managers seeking to enhance their decision-making skills and improve organisational sustainability. By mastering risk management principles, learners can contribute to long-term business success by safeguarding assets, optimising opportunities, and maintaining stakeholder confidence.

Unit Objectives

The main objectives of CMI Unit 708 Strategic Risk Management include:

• To equip learners with the expertise to identify and evaluate strategic risks in an organisational setting.
• To develop an in-depth understanding of risk management strategies and frameworks that support sustainable decision-making.
• To enhance leadership capabilities in fostering a culture of risk awareness and resilience within organisations.
• To enable learners to propose and implement risk management frameworks that align with organisational goals and strategic objectives.

Learning Outcomes

The significant learning outcomes of CMI Unit 708 Strategic Risk Management are outlined below:

LO1: Understand strategies for managing risk

This learning outcome focuses on the ability to critically analyse risk management strategies within an organisational framework. Learners will explore various risk mitigation techniques and how they can be adapted to different industries and business environments. Understanding how organisations can anticipate, prepare for, and respond to risks is fundamental to ensuring operational stability and strategic success.

LO2: Know how to develop risk management strategies

This outcome ensures that learners gain practical knowledge of risk management frameworks and how they support organisational objectives. Learners will assess leadership competencies required to embed risk management into business processes. The focus is also on designing effective risk management frameworks that enhance resilience, compliance, and strategic alignment.

Assessment Criteria

The assessment criteria for CMI Unit 708 Strategic Risk Management are directly aligned with the learning outcomes:

LO1: Understand strategies for managing risk

• 1.1 Critically appraise strategic risk within an organisational context.
• 1.2 Critically assess strategies for managing risk in an organisational context.

LO2: Know how to develop risk management strategies

• 2.1 Critically appraise the leadership skills for strategic risk management.
  
• 2.2 Propose a Risk Management Framework to deliver strategic objectives.
  

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