Task 1: (10 marks)
How are heuristics (ideas that make you think) used to aid, or hinder, risk-related
decision making ? How does bias and avoidance of risk impact on the analysis and
management of risk? Support your response with examples
Task 2: (30 marks)
Assume you are a risk consultant and have been retained to advise a public company
on how to changefimplement their risk strategy- Prepare an appropriate response to
the board on how they should approach risk