1.Examine four mini case studies that highlight a variety of risks, challenges and success factors in implementation ERM frameworks and ERM transformation initiatives.
Read the following chapters from book – ERM textbook (Fraser, J., Simkins, B., & Narvaez, K. (2014). Implementing enterprise risk management: Case studies and best practices. John Wiley & Sons.)
(Chapter 26: “Bim Consultants Inc.”, Chapter 27: “Nerds Galore” , Chapter 28: “The Reluctant General Counsel” ,Chapter 29: “Transforming Risk Management at Akawini Copper””)
This chapter readings focused on four mini-case studies with unique challenges presented that are highly relevant in the context of ERM. Provide a brief summary of each of the four case studies by discussing for each case what was the challenge presented and some strengths and weakness in the risk management approaches. Conclude your discussion, based on the case study from chapter 29 “Transforming Risk Management at Akawini Copper”, by providing your thoughts on risk management transformations, specifically discussing how we can monitor risk transformation progress and performance.(300 words)
2. Read Chapter 5 Advanced Analytics Theory and Methods: Association Rules (From: EMC Education Service (Eds). (2015) Data Science and Big Data Analytics: Discovering, Analyzing, Visualizing, and Presenting Data, Indianapolis, IN: John Wiley & Sons, Inc. ISBN: 9781118876138 )
Please provide an example of how market basket analysis is used by companies. What is the value of it? How does it relate to Big Data?(300 words)