Explain how risk management plans can be used in making decisions about actions to be taken for a business.

Instruction

You are required to answer all of the following questions. You need to answer all of the written questions correctly. Generally, you are expected to write a response one or two paragraphs long. Please answer the questions using word processing software.

Assessment criteria

All questions must be answered correctly in order for you to be assessed as having completed the task satisfactorily.

  1. Describe at least two types of existing technology that can be used in knowledge and information management.
  2. Describe an emerging technology that can be used in knowledge and information management.
  3. Explain all of the following methods of analysis and their relevance to decision making.
    1. correlation calculations
    2. short to medium-term term and long-term trend analyses
    3. probability assessment
    4. regulation analyses
    5. dynamic programming
    6. linear programming
    7. queuing theory
    8. Simulation
    9. transportation methodology
  4. Outline three key features of management information systems and decision support systems.
  5. Explain how risk management plans can be used in making decisions about actions to be taken for a business.
  6. List five consequences of failing to maintain corporate knowledge.
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