What is your assessment of the situation?

Chapter 26: Bim Consultants Inc.

Please address the questions below.

1. What is your assessment of the situation?

2. What advice would you provide to the board of Bim Consultants?

3. What pitfalls should they be concerned with?

Chapter 27: Nerds Galore

Please address the questions below.

1. This is a relatively brief case study; yet the problems faced are quite complex. In your workshop, how did you handle uncertainty in the information you have been given and how does this translate into real-world workshops where not all the answers can necessarily be given at the table?

2. What were some of the risk sources that emerged repeatedly in evaluating the risks? How is this helpful?

3. How would this risk assessment aid in the decision on whether or not to proceed with the new HR strategy?

Chapter 28: The Reluctant General Counsel

Please address the questions below.

1. What are Jason’s options? Can he accept a risk management program that does not involve the legal department?

2. Do you agree with George’s arguments? Are they valid?

3. How would you proceed, if you were the risk officer?

Chapter 29: Transforming Risk Management at Akawini Copper

Please address the questions below.

1. If you were conducting interviews of the Akawini management team so that you could draw objective conclusions for the review described in the chapter, what questions would you ask?

2. What would you expect to see in the first year risk management transformation plan? What would be the typical tasks?

3. You have been asked to advise the Akawini management team how they should promote and monitor the transformation of risk management in their business. What performance measures would you recommend they use so that they can monitor progress and performance?

Sample Solution

Chapter 26: Bim Consultants Inc.

1. The situation at Bim Consultants is concerning as the company is facing several legal and financial issues. The company’s former employee, Peter Smith, has filed a lawsuit against the company, alleging wrongful termination and seeking compensation. Additionally, the company is facing financial difficulties as it is struggling to meet its financial obligations.
2. The board of Bim Consultants should seek legal advice and consider settling the lawsuit with Peter Smith to avoid the high costs and negative publicity associated with a legal battle. The board should also review the company’s financial situation and consider implementing cost-cutting measures to reduce expenses and improve cash flow. It is crucial for the board to communicate transparently with employees, clients, and stakeholders about the company’s situation and plans to address the issues.
3. The board should be cautious of potential legal and reputational risks associated with the lawsuit and financial difficulties. They should…order customized answer