Answers should show an in depth understanding of theories of risk, in terms of risk perception, communication, systemic failure, organisational culture and risk homeostasis. Answers should also show a measure of understanding for standard business continuity techniques such as risk matrixes, probability versus impact etc. Strong candidates will debate whether risk management is possible and use the theories to argue that attempts to eradicate or reduce risk can only ever be partially successful.
Answers should demonstrate an understanding of what a crisis is and how it is different qualitatively to an emergency or disaster from the point of view of response. Examples should be given to illustrate this using case studies and explaining why they are emergencies, crisis and disasters. Very good answers will discuss the value of learning from success and why there are significant barriers to learning from failure.
Where students are particularly well thought through, they will attempt to discuss and debate the merits of risk management versus crisis management and consider the value of doing this in parallel. For example using crisis simulations to both train key decision makers while also highlighting areas of inadequacy in risk prevention plans.