Risk-based Learning - Revision history

S212950 at 20:48, 22 March 2022

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	This article begins by providing an overview of risk-based learning through an introduction to the concept of risk-based. Following that, it explores the significance of risk management and the key factors that need to be considered. Risk assessment in project management is addressed in-depth, as well as its application to detect risks. Finally, the limits of risk-based learning are emphasized.		This article begins by providing an overview of risk-based learning through an introduction to the concept of risk-based. Following that, it explores the significance of risk management and the key factors that need to be considered. Risk assessment in project management is addressed in-depth, as well as its application to detect risks. Finally, the limits of risk-based learning are emphasized.


	==The Big Idea: An Introduction==		==The Big Idea: An Introduction==
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	Risk analysis entails evaluating how project goals and objectives may alter as a result of the risk event's influence. Successful organizations should be able to effectively and efficiently identify the risks that have a direct impact on their goals and objectives. Once the risks have been identified, they are analyzed to determine the qualitative and quantitative impact of the risk on the project so that suitable measures may be performed. It might be difficult to identify the most significant risks. To analyze risks, it is essential to address both the probability and impact of the risks within an organization, project, program, and portfolio risk management processes. <ref name="book"/>		Risk analysis entails evaluating how project goals and objectives may alter as a result of the risk event's influence. Successful organizations should be able to effectively and efficiently identify the risks that have a direct impact on their goals and objectives. Once the risks have been identified, they are analyzed to determine the qualitative and quantitative impact of the risk on the project so that suitable measures may be performed. It might be difficult to identify the most significant risks. To analyze risks, it is essential to address both the probability and impact of the risks within an organization, project, program, and portfolio risk management processes. <ref name="book"/>


	To analyze risks, the following guidelines are employed: <ref name="projectm"/>		To analyze risks, the following guidelines are employed: <ref name="projectm"/>
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	*'''Mitigate:''' Action is performed in risk mitigation to lower the likelihood of occurrence and/or effect of a threat to an acceptable threshold. An early mitigation action is frequently more successful than attempting to restore damage after the threat has happened. <ref name="book"/>		*'''Mitigate:''' Action is performed in risk mitigation to lower the likelihood of occurrence and/or effect of a threat to an acceptable threshold. An early mitigation action is frequently more successful than attempting to restore damage after the threat has happened. <ref name="book"/>
	*'''Avoid:''' When the project, program, or portfolio team moves to eliminate the threat posed by the adverse risk/issue it is referred to as risk avoidance. It is most suitable for a high-priority threat with a high likelihood of occurrence and a significant negative impact. <ref name="book"/>		*'''Avoid:''' When the project, program, or portfolio team moves to eliminate the threat posed by the adverse risk/issue it is referred to as risk avoidance. It is most suitable for a high-priority threat with a high likelihood of occurrence and a significant negative impact. <ref name="book"/>
			<li style="display: inline-block;"> [[File:Study2.png\|thumb\|right\|283px\|'''Figure 3: ''' Average quiz scores as overall scores and separated into gender. ''(own figure, based on <ref name="games"/>) '']]

	====Study on Risk-Based Learning Games====		====Study on Risk-Based Learning Games====
	<li style="display: inline-block;"> [[File:Study2.png\|thumb\|right\|283px\|'''Figure 3: ''' Average quiz scores as overall scores and separated into gender. ''(own figure, based on <ref name="games"/>) '']]
	In 2014, undergraduate students conducted a study in which they designed a risk-based learning game for students in order to explore if such learning games may increase later memory of information. Undergraduate neuroscience students led 90-minute scientific workshops for 9-10 year old students (n = 448) separated into 'Risk,' 'No Risk,' and 'Control' groups. During the workshops, 'Risk' groups were given multiple choice questions (MCQs) that required small groups of students to allocate tokens to the answer(s) they thought were right. <ref name="games"> Devonshire, I., Davis, J., Fairweather, S., Highfield, L., Thaker, C., Walsh, A., ... Hathway, Gareth J. (2014). Risk-based learning games improve long-term retention of information among school pupils ''Plos One, 9(7),'' e103640. Retrieved on March 4th 2022 from https://doi.org/10.1371/journal.pone.0103640 </ref>		In 2014, undergraduate students conducted a study in which they designed a risk-based learning game for students in order to explore if such learning games may increase later memory of information. Undergraduate neuroscience students led 90-minute scientific workshops for 9-10 year old students (n = 448) separated into 'Risk,' 'No Risk,' and 'Control' groups. During the workshops, 'Risk' groups were given multiple choice questions (MCQs) that required small groups of students to allocate tokens to the answer(s) they thought were right. <ref name="games"> Devonshire, I., Davis, J., Fairweather, S., Highfield, L., Thaker, C., Walsh, A., ... Hathway, Gareth J. (2014). Risk-based learning games improve long-term retention of information among school pupils ''Plos One, 9(7),'' e103640. Retrieved on March 4th 2022 from https://doi.org/10.1371/journal.pone.0103640 </ref>

S212950 at 20:45, 22 March 2022

2022-03-22T20:45:56Z

← Older revision		Revision as of 20:45, 22 March 2022
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	====Study on Risk-Based Learning Games====		====Study on Risk-Based Learning Games====
	<li style="display: inline-block;"> [[File:Study2.png\|thumb\|right\|283px\|'''Figure 3: ''' Average quiz scores as overall scores and separated into gender. ''(own figure, based on <ref name="games"/>) '']]		<li style="display: inline-block;"> [[File:Study2.png\|thumb\|right\|283px\|'''Figure 3: ''' Average quiz scores as overall scores and separated into gender. ''(own figure, based on <ref name="games"/>) '']]

	In 2014, undergraduate students conducted a study in which they designed a risk-based learning game for students in order to explore if such learning games may increase later memory of information. Undergraduate neuroscience students led 90-minute scientific workshops for 9-10 year old students (n = 448) separated into 'Risk,' 'No Risk,' and 'Control' groups. During the workshops, 'Risk' groups were given multiple choice questions (MCQs) that required small groups of students to allocate tokens to the answer(s) they thought were right. <ref name="games"> Devonshire, I., Davis, J., Fairweather, S., Highfield, L., Thaker, C., Walsh, A., ... Hathway, Gareth J. (2014). Risk-based learning games improve long-term retention of information among school pupils ''Plos One, 9(7),'' e103640. Retrieved on March 4th 2022 from https://doi.org/10.1371/journal.pone.0103640 </ref>		In 2014, undergraduate students conducted a study in which they designed a risk-based learning game for students in order to explore if such learning games may increase later memory of information. Undergraduate neuroscience students led 90-minute scientific workshops for 9-10 year old students (n = 448) separated into 'Risk,' 'No Risk,' and 'Control' groups. During the workshops, 'Risk' groups were given multiple choice questions (MCQs) that required small groups of students to allocate tokens to the answer(s) they thought were right. <ref name="games"> Devonshire, I., Davis, J., Fairweather, S., Highfield, L., Thaker, C., Walsh, A., ... Hathway, Gareth J. (2014). Risk-based learning games improve long-term retention of information among school pupils ''Plos One, 9(7),'' e103640. Retrieved on March 4th 2022 from https://doi.org/10.1371/journal.pone.0103640 </ref>

S212950 at 20:45, 22 March 2022

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	====Study on Risk-Based Learning Games====		====Study on Risk-Based Learning Games====

	<li style="display: inline-block;"> [[File:Study2.png\|thumb\|right\|283px\|'''Figure 3: ''' Average quiz scores as overall scores and separated into gender. ''(own figure, based on <ref name="games"/>) '']]		<li style="display: inline-block;"> [[File:Study2.png\|thumb\|right\|283px\|'''Figure 3: ''' Average quiz scores as overall scores and separated into gender. ''(own figure, based on <ref name="games"/>) '']]

S212950 at 20:44, 22 March 2022

2022-03-22T20:44:52Z

← Older revision		Revision as of 20:44, 22 March 2022
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	*'''Mitigate:''' Action is performed in risk mitigation to lower the likelihood of occurrence and/or effect of a threat to an acceptable threshold. An early mitigation action is frequently more successful than attempting to restore damage after the threat has happened. <ref name="book"/>		*'''Mitigate:''' Action is performed in risk mitigation to lower the likelihood of occurrence and/or effect of a threat to an acceptable threshold. An early mitigation action is frequently more successful than attempting to restore damage after the threat has happened. <ref name="book"/>
	*'''Avoid:''' When the project, program, or portfolio team moves to eliminate the threat posed by the adverse risk/issue it is referred to as risk avoidance. It is most suitable for a high-priority threat with a high likelihood of occurrence and a significant negative impact. <ref name="book"/>		*'''Avoid:''' When the project, program, or portfolio team moves to eliminate the threat posed by the adverse risk/issue it is referred to as risk avoidance. It is most suitable for a high-priority threat with a high likelihood of occurrence and a significant negative impact. <ref name="book"/>
	<li style="display: inline-block;"> [[File:Study2.png\|thumb\|right\|283px\|'''Figure 3: ''' Average quiz scores as overall scores and separated into gender. ''(own figure, based on <ref name="games"/>) '']]

	====Study on Risk-Based Learning Games====		====Study on Risk-Based Learning Games====

			<li style="display: inline-block;"> [[File:Study2.png\|thumb\|right\|283px\|'''Figure 3: ''' Average quiz scores as overall scores and separated into gender. ''(own figure, based on <ref name="games"/>) '']]

	In 2014, undergraduate students conducted a study in which they designed a risk-based learning game for students in order to explore if such learning games may increase later memory of information. Undergraduate neuroscience students led 90-minute scientific workshops for 9-10 year old students (n = 448) separated into 'Risk,' 'No Risk,' and 'Control' groups. During the workshops, 'Risk' groups were given multiple choice questions (MCQs) that required small groups of students to allocate tokens to the answer(s) they thought were right. <ref name="games"> Devonshire, I., Davis, J., Fairweather, S., Highfield, L., Thaker, C., Walsh, A., ... Hathway, Gareth J. (2014). Risk-based learning games improve long-term retention of information among school pupils ''Plos One, 9(7),'' e103640. Retrieved on March 4th 2022 from https://doi.org/10.1371/journal.pone.0103640 </ref>		In 2014, undergraduate students conducted a study in which they designed a risk-based learning game for students in order to explore if such learning games may increase later memory of information. Undergraduate neuroscience students led 90-minute scientific workshops for 9-10 year old students (n = 448) separated into 'Risk,' 'No Risk,' and 'Control' groups. During the workshops, 'Risk' groups were given multiple choice questions (MCQs) that required small groups of students to allocate tokens to the answer(s) they thought were right. <ref name="games"> Devonshire, I., Davis, J., Fairweather, S., Highfield, L., Thaker, C., Walsh, A., ... Hathway, Gareth J. (2014). Risk-based learning games improve long-term retention of information among school pupils ''Plos One, 9(7),'' e103640. Retrieved on March 4th 2022 from https://doi.org/10.1371/journal.pone.0103640 </ref>

S212950 at 20:44, 22 March 2022

2022-03-22T20:44:12Z

← Older revision		Revision as of 20:44, 22 March 2022
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	Risk analysis entails evaluating how project goals and objectives may alter as a result of the risk event's influence. Successful organizations should be able to effectively and efficiently identify the risks that have a direct impact on their goals and objectives. Once the risks have been identified, they are analyzed to determine the qualitative and quantitative impact of the risk on the project so that suitable measures may be performed. It might be difficult to identify the most significant risks. To analyze risks, it is essential to address both the probability and impact of the risks within an organization, project, program, and portfolio risk management processes. <ref name="book"/>		Risk analysis entails evaluating how project goals and objectives may alter as a result of the risk event's influence. Successful organizations should be able to effectively and efficiently identify the risks that have a direct impact on their goals and objectives. Once the risks have been identified, they are analyzed to determine the qualitative and quantitative impact of the risk on the project so that suitable measures may be performed. It might be difficult to identify the most significant risks. To analyze risks, it is essential to address both the probability and impact of the risks within an organization, project, program, and portfolio risk management processes. <ref name="book"/>


	To analyze risks, the following guidelines are employed: <ref name="projectm"/>		To analyze risks, the following guidelines are employed: <ref name="projectm"/>

S212950 at 20:43, 22 March 2022

2022-03-22T20:43:17Z

← Older revision		Revision as of 20:43, 22 March 2022
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	This article begins by providing an overview of risk-based learning through an introduction to the concept of risk-based. Following that, it explores the significance of risk management and the key factors that need to be considered. Risk assessment in project management is addressed in-depth, as well as its application to detect risks. Finally, the limits of risk-based learning are emphasized.		This article begins by providing an overview of risk-based learning through an introduction to the concept of risk-based. Following that, it explores the significance of risk management and the key factors that need to be considered. Risk assessment in project management is addressed in-depth, as well as its application to detect risks. Finally, the limits of risk-based learning are emphasized.


	==The Big Idea: An Introduction==		==The Big Idea: An Introduction==

S212950 at 20:41, 22 March 2022

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	These key success factors include:		These key success factors include:

	*'''Recognizing the value of risk management.''' ~~Portfolio~~, program, and ~~project~~ risk management is acknowledged as a valued discipline that offers a significant return on investment by organizational management, team members, and stakeholders. <ref name="book"/>		*'''Recognizing the value of risk management.''' Project, program, and portfolio risk management is acknowledged as a valued discipline that offers a significant return on investment by organizational management, team members, and stakeholders. <ref name="book"/>

	*'''Individual commitment/responsibility.''' Participants and stakeholders in the project, program, and portfolio assume responsibility for performing risk-related actions as needed. Everyone is responsible for risk management. <ref name="book"/>		*'''Individual commitment/responsibility.''' Participants and stakeholders in the project, program, and portfolio assume responsibility for performing risk-related actions as needed. Everyone is responsible for risk management. <ref name="book"/>
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	https://onlinelibrary-wiley-com.proxy.findit.cvt.dk/doi/pdf/10.1002/9781119449430 on February 19th 2022.</ref>		https://onlinelibrary-wiley-com.proxy.findit.cvt.dk/doi/pdf/10.1002/9781119449430 on February 19th 2022.</ref>

	*'''Organizational commitment.''' It is critical to establish a culture that values risk management in order to achieve this. Only when risk management is integrated with the organization's goals, values, and ERM policies can organizational commitment develop. Risk management decisions may need approval from people at a higher level than the ~~portfolio~~, program, or ~~project~~ manager. <ref name="book"/> Risk management is an integral component of the framework for project, program, and portfolio management. Risk management needs to be practiced, acknowledged, and supported within the organization. A risk management culture fosters the identification of risks rather than ignoring them, as well as the discovery of possibilities through the promotion of a positive mentality inside the organization. <ref name="rael"/>		*'''Organizational commitment.''' It is critical to establish a culture that values risk management in order to achieve this. Only when risk management is integrated with the organization's goals, values, and ERM policies can organizational commitment develop. Risk management decisions may need approval from people at a higher level than the project, program, or portfolio manager. <ref name="book"/> Risk management is an integral component of the framework for project, program, and portfolio management. Risk management needs to be practiced, acknowledged, and supported within the organization. A risk management culture fosters the identification of risks rather than ignoring them, as well as the discovery of possibilities through the promotion of a positive mentality inside the organization. <ref name="rael"/>

	*'''Tailoring risk effort.''' Risk management operations are compatible with the organization's value of the activity, as well as it's level of risk, scale, and other restrictions. <ref name="book"/>		*'''Tailoring risk effort.''' Risk management operations are compatible with the organization's value of the activity, as well as it's level of risk, scale, and other restrictions. <ref name="book"/>

S212950 at 20:39, 22 March 2022

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	The group received the tokens and an equal amount back as a prize if they answered correctly, but they lost the tokens if they answered incorrectly. The group at the end of the workshop that had the most tokens won a price. MCQs without the risk component were given to the 'No risk' group, whereas no MCQs were given to the 'Control' group. At the end of the workshop, the students were given a neuroscience test based on the workshop material. Students in the 'Risk' group remembered material considerably better one week later than students in the 'No Risk' and 'Control' groups. This is reinforced by responses from students in 'Risk' classes, who stated that the 'Risk' workshops were more interesting than the 'No risk' and 'Control' workshops. <ref name="games"/>		The group received the tokens and an equal amount back as a prize if they answered correctly, but they lost the tokens if they answered incorrectly. The group at the end of the workshop that had the most tokens won a price. MCQs without the risk component were given to the 'No risk' group, whereas no MCQs were given to the 'Control' group. At the end of the workshop, the students were given a neuroscience test based on the workshop material. Students in the 'Risk' group remembered material considerably better one week later than students in the 'No Risk' and 'Control' groups. This is reinforced by responses from students in 'Risk' classes, who stated that the 'Risk' workshops were more interesting than the 'No risk' and 'Control' workshops. <ref name="games"/>

	Average quiz scores ~~as overall scores,~~ and ~~separated gender scores,~~ are illustrated in Figure 3. These findings show that risk has a role in the classroom and can be used to interest students and motivate them to improve engagement in the classroom. It suggest that the higher the risk factor involved, the more likely it is that the students will prepare for it, learn from it, and hence remember it better. The evaluation is taken more seriously when there is risk involved. It also indicates that there is a connection between the degree of risk around us and our memory. <ref name="games"/>		Average quiz scores on the day of the workshop and a week later are illustrated in Figure 3. These findings show that risk has a role in the classroom and can be used to interest students and motivate them to improve engagement in the classroom. It suggest that the higher the risk factor involved, the more likely it is that the students will prepare for it, learn from it, and hence remember it better. The evaluation is taken more seriously when there is risk involved. It also indicates that there is a connection between the degree of risk around us and our memory. <ref name="games"/>

	==Limitations and conclusions==		==Limitations and conclusions==

S212950 at 20:33, 22 March 2022

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	https://www.forbes.com/sites/forbesbooksauthors/2019/08/23/lifes-short-take-more-risks/?sh=62ff41f12ad5 on February 20th 2022.</ref>		https://www.forbes.com/sites/forbesbooksauthors/2019/08/23/lifes-short-take-more-risks/?sh=62ff41f12ad5 on February 20th 2022.</ref>

	This ~~issue~~ is connected to project, program, and portfolio management because it is critical for managers to understand the driving forces behind risk management and to be able to apply it to risk assessments. A risk may have one or more causes and, if it occurs, one or more consequences. Threats that arise are referred to as issues, and opportunities that emerge are referred to as benefits. Project, program, and portfolio managers are accountable for resolving and managing these difficulties in an efficient and effective manner. <ref name="book"/>		This topic is connected to project, program, and portfolio management because it is critical for managers to understand the driving forces behind risk management and to be able to apply it to risk assessments. A risk may have one or more causes and, if it occurs, one or more consequences. Threats that arise are referred to as issues, and opportunities that emerge are referred to as benefits. Project, program, and portfolio managers are accountable for resolving and managing these difficulties in an efficient and effective manner. <ref name="book"/>

	This article begins by providing an overview of risk-based learning through an introduction to the concept of risk-based. Following that, it explores the significance of risk management and the key factors that need to be considered. Risk assessment in project management is addressed in-depth, as well as its application to detect risks. Finally, the limits of risk-based learning are emphasized.		This article begins by providing an overview of risk-based learning through an introduction to the concept of risk-based. Following that, it explores the significance of risk management and the key factors that need to be considered. Risk assessment in project management is addressed in-depth, as well as its application to detect risks. Finally, the limits of risk-based learning are emphasized.

S212950 at 20:32, 22 March 2022

2022-03-22T20:32:12Z

← Older revision		Revision as of 20:32, 22 March 2022
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	The group received the tokens and an equal amount back as a prize if they answered correctly, but they lost the tokens if they answered incorrectly. The group at the end of the workshop that had the most tokens won a price. MCQs without the risk component were given to the 'No risk' group, whereas no MCQs were given to the 'Control' group. At the end of the workshop, the students were given a neuroscience test based on the workshop material. Students in the 'Risk' group remembered material considerably better one week later than students in the 'No Risk' and 'Control' groups. This is reinforced by responses from students in 'Risk' classes, who stated that the 'Risk' workshops were more interesting than the 'No risk' and 'Control' workshops. <ref name="games"/>		The group received the tokens and an equal amount back as a prize if they answered correctly, but they lost the tokens if they answered incorrectly. The group at the end of the workshop that had the most tokens won a price. MCQs without the risk component were given to the 'No risk' group, whereas no MCQs were given to the 'Control' group. At the end of the workshop, the students were given a neuroscience test based on the workshop material. Students in the 'Risk' group remembered material considerably better one week later than students in the 'No Risk' and 'Control' groups. This is reinforced by responses from students in 'Risk' classes, who stated that the 'Risk' workshops were more interesting than the 'No risk' and 'Control' workshops. <ref name="games"/>

	Average quiz scores as overall scores and separated ~~into~~ gender ~~results~~ are illustrated in Figure 3. These findings show that risk has a role in the classroom and can be used to interest students and motivate them to improve engagement in the classroom. ~~They~~ suggest that the higher the risk factor involved, the more likely it is that we will prepare for it, learn from it and hence remember it better. The evaluation is taken more seriously when there is risk involved. It also indicates that there is a connection between the degree of risk around us and our memory. <ref name="games"/>		Average quiz scores as overall scores, and separated gender scores, are illustrated in Figure 3. These findings show that risk has a role in the classroom and can be used to interest students and motivate them to improve engagement in the classroom. It suggest that the higher the risk factor involved, the more likely it is that the students will prepare for it, learn from it, and hence remember it better. The evaluation is taken more seriously when there is risk involved. It also indicates that there is a connection between the degree of risk around us and our memory. <ref name="games"/>

	==Limitations and conclusions==		==Limitations and conclusions==

	The main limitation of the application of risk management is the uncertainty factor. Uncertainty is a key concept when it comes to risk management. The uncertainty makes it difficult to analyze risks and collect enough data to be able to anticipate hazards as accurately as feasible. Furthermore, risk management requires complex calculations that must be performed by a qualified practitioner. <ref name="limits"> Reddy, C. (n.d.). ''What is Risk Management: Advantages and Disadvantages'' Retrieved from		The main limitation of the application of risk management is the uncertainty factor. Uncertainty is a key concept when it comes to risk management. The uncertainty makes it difficult to analyze risks and collect enough data to be able to anticipate hazards as accurately as feasible. Furthermore, risk management requires complex calculations that must be performed by a qualified practitioner and, if not done properly, can severely limit risk identification and analysis. <ref name="limits"> Reddy, C. (n.d.). ''What is Risk Management: Advantages and Disadvantages'' Retrieved from
	https://content.wisestep.com/advantage-disadvantage-risk-management/ on March 20th 2022.</ref>		https://content.wisestep.com/advantage-disadvantage-risk-management/ on March 20th 2022.</ref>

	Identification of risks might also provide a false sense of security. Identifying the risk is not enough if the required actions are not taken to reduce the possibility of the risk occurring. Risk identification is never complete since risks are continuously changing and evolving. New risks might appear at any time, therefore risk identification should be repeated. What is a risk at one time may not be a risk at another.		Identification of risks might also provide a false sense of security. Identifying the risk is not enough if the required actions are not taken to reduce the possibility of the risk occurring. Risk identification is never complete since risks are continuously changing and evolving. New risks might appear at any time, therefore risk identification should be repeated. What is a risk at one time may not be a risk at another.

	Risk assessment and management is becoming the most challenging aspect of managing a project, program and portfolio. While we can never forecast the future with certainty, we can apply risk assessment methods to increases the likelihood of successful project completion and decreases the risks associated with it. <ref name="projectm"/> Management should be aware of the concept of risk-based learning and utilize it to encourage their employees to apply risk management effectively and productively.		Risk assessment and management is becoming the most challenging aspect of managing a project, program, and portfolio. While we can never forecast the future with certainty, we can apply risk assessment methods to increases the likelihood of successful project completion and decreases the risks associated with it. <ref name="projectm"/> Management should be aware of the concept of risk-based learning and utilize it to encourage their employees to apply risk management effectively and productively.

	==Annotated bibliography==		==Annotated bibliography==