DRM701 Principles of Risk Management (L/650/5656) Assignment Brief 2026

University	Qualifi Ltd
Subject	DRM701 Principles of Risk Management (L/650/5656)

Qualifi Level 7 Unit DRM701 Assignment Brief 2026

Qualification	Level 7 Diploma in Risk Management (610/2175/1)
Unit Reference Number	L/650/5656
Unit Code	DRM701
Unit Title	Principles of Risk Management
Unit Level	7
Number of Credits	20
Total Qualification Time (TQT)	200 hours
Guided Learning Hours (GLH)	100 hours

Unit Aim

The aim of this unit is to develop learners’ understanding of legislative frameworks that contributed to design on risk assessment plans in organisations and learn the basics of ISO standards. ISO is a universally recognised international standard that provides principles and guidelines on risk management. These standards provide principles, a framework, and a process for managing risk that can be used by any organisation. The learners will become aware of the principles of the ISO standards.

Learning Outcomes and Assessment Criteria

Learning Outcomes When awarded credit for this unit a learner will:	Assessment Criteria Assessment of this learning outcome will require a learner to demonstrate that they can:
1 Understand the principles of risk management.	1.1 Define risk in the context of an organisation.
	1.2 Explain risk management in the context of an organisation.
	1.3 Evaluate the risk management process in three stages in an organisational context
	1.4 Evaluate the significance of effective risk management.
	1.5 Evaluate the effectiveness of risk management strategies.
2 Understand legislative frameworks that influence risk management decision-making in an organisation.	2.1 Analyse the legislative factors that influence risk assessment considerations for health and safety.
	2.2 Evaluate the impact of relevant legislation, legal factors and regulatory bodies on health and safety in an organisation. 2.3 Assess the role and importance of the legislative framework on risk management in an organisation.
3. Understand the extent and implications of risk management standards.	3.1 Assess the scope of relevant ISO standards in an organisation.
	3.2 Analyse the focal points of ISO Standards harmonisation programmes and their impact on an organisation.
	3.3 Analyse the application of ISO standards in managing risks in an organisation.

Indicative Content

Identification, evaluation, and prioritisation of risks
Stages: Risk Identification, Risk Assessment, Risk Planning
Methods: Avoidance, Retention, Sharing risk, Transferring risk, Loss prevention and reduction.
Relevant legislature relating to own country E.G. in the UK the legislative factors include but are not limited to the following: Control of Substances Hazardous to Health (COSHH, 2002), Health and Safety (First Aid) Regulations (1981), Health and Safety at Work Act (1974), additions to the (1974) Health and Safety at Work Act (Reporting of Injuries, Diseases and Dangerous Occurrences Regulations (RIDDOR), Management of Health and Safety at Work Act (Amendment) Regulations (1994), Management of Health and Safety Regulations (1999),Manual Handling Operations Regulations (1992).
Other regulatory bodies, E.G. local authorities, local educational authorities, police.
Framework example: ISO31000:2018-Riskmanagement- Guidelines, ISO/TR31004:2013Riskmanagement – Guidance for the implementation of ISO 31000, IEC31010:2019Riskmanagement- Risk assessment techniques,ISO31022:2020-Riskmanagement- Guidelines for the management of legal risk, IWA31:2020-Riskmanagement- Guidelines on using ISO 31000 in management systems.
Focus: Transferring accountability in enterprise risk management, Aligning objectives of the governance frameworks with ISO 31000, Embedding management system reporting mechanisms, Creating uniform risk criteria and evaluation metrics.

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