WGU D368 - How to pass the Enterprise Risk Management (2024)

Welcome, students, to another comprehensive study guide designed to support your journey toward success. This time, we turn our focus to the module “Enterprise Risk Management WGU D368” breaking it down into easily digestible segments. Our aim, as always, is to provide you with all the necessary information to comprehend the module and navigate through it effectively, ensuring your success along the way. Every piece of information presented in this article has been meticulously curated through thorough research and the invaluable insights of former students. Our goal is to equip you with the most accurate and valuable tips and guidance to ease your experience with this course. By following our advice, passing this module will become a straightforward task.

Throughout this article, we will delve into:

  1. What is Enterprise Risk Management WGU D368
  2. Study guide to prepare you for the OA
  3. Strategies to pass the OA
  4. External resources for studying
  5. FAQ

With the knowledge provided in this article, you will be well-equipped to tackle the challenges of the “Enterprise Risk Management WGU D368” module with confidence and achieve your academic goals. Let’s dive in and pave the way for your success!

...

WGU D368 Study Guide to Prepare You for the OA📝

Now that you are aware of what to expect from this module, let us proceed to discuss how to tackle the course content and ace the OA in the most efficient way. With our study guide, we have eliminated the need for you to comb through all the available study resources and worry about which advice to take and what steps you need to take next. We have done all the hard work for you, and we have figured out the best study path to achieve your goals in the shortest amount of time possible. As this module is known to be relatively easy compared to other modules in WGU, we have constructed a study guide that will allow you to complete the course in just two weeks. So take out your notebooks and calculators, let’s get started,

Step 1 – Read through the Textbook

Module D368 is a newly introduced module to the WGU catalog of courses. Due to this fact, the module still lacks proper study resources and cohort sessions to guide you through the course content and help you acquire the necessary knowledge needed to pass the OA. So our only study resource for this module is provided as the official Textbook of D368. The Textbook is highly regarded among the WGU students as hard to navigate and confusing to read through. Even though it provides you with the complete knowledge required to pass the OA, it does not do a good job of providing that information in a very structured and easy-to-understand manner. Even the quizzes in the Textbook are known to be harder than the actual OA questions and confusing to answer.

Even though this is the reality of the situation, we recommend that you at least read through the Textbook at least once to gain your initial knowledge of the course content. Do your best to understand the core concepts and take short notes of the significant topics to deep dive into later. Once you have an initial understanding of what concepts to learn and what is the main focus of the module, you will be able to research these topics using other resources available on the internet.

To find the Textbook of D368, follow the below-given instructions.

  • Go to the Student Portal of WGU > Log onto your student profile > Go to the D368 module page > Click on the “Go to course materials”

Step 2 – Watch the supplemental videos

Once you have gone through the Textbook, we will go through the available supplemental videos of the course content. These videos will be able to explain some of the core concepts better and help you unravel the complicated theories of the module. Go through all the videos we have listed down below.

  • Go to the Student Portal of WGU > Log onto your student profile > Go to the D368 module page > Go to the “Course Search” section >
  • Watch the video “Key Terms in ERM”
  • Watch the video “Types of Financial Risk”
  • Watch the video “D368 Financial Risk Concepts”

Step 3 – Attempt the Pre-A

Even though we do not have a clear understanding of all the core concepts of the module, we recommend you attempt the Pre-A of D368 to gather valuable feedback on the OA. We are taking this step because the Pre-A and OA of D368 align pretty well and they are almost similar to each other in the method of how the questions are presented. By completing the Pre-A you will be able to understand the scope and depth of the questions in the OA as well as gather a list of core concepts that will be tested. So try to complete the Pre-A to the best of your capability and note down the significant topics that you need to understand better to face the OA.

Step 4 – Research the core concepts using the internet

Now that we have a list of important topics we need to understand to face the OA, let us finally deep dive into each topic and have a clear understanding of the subject matter of D368. Utilize various websites and platforms on the internet to go through each concept until you are competent enough to face the OA. You can utilize popular platforms such as YouTube, Investopedia, Udemy, and Chatgpt to gather the necessary knowledge you require.

Step 5 – Retake the Pre-A

By now, you should have a clear understanding of everything D368 has to offer. As we are finally prepared to tackle the assessments of this module, retake the Pre-A to evaluate your knowledge. Once you complete the Pre-A, use the auto-generated coaching guide to help you identify the weak points in your knowledge. Go through these weak points and revise the information using the short notes you have taken throughout your study journey. And then retake the Pre-A to score above 85% to pass the Pre-A. If you fail to achieve this score on your second try, follow the same steps again and again to take the Pre-A as many times as you want to achieve this score.

Step 6 – Face the OA

After you successfully pass the Pre-A, you can assure yourself that you are ready to take the final OA and pass the module. So without hesitation, schedule the OA of D368 at a time of your convenience.

To take the OA, you should:

  • Schedule the OA at a convenient time and date for you
  • Make sure you have a stable internet connection, a webcam, and a microphone.
  • Follow the proctoring instructions and rules carefully.
  • Use the same strategies and skills that you used for the Pre-A
  • Relax and be confident in your abilities.

Good luck!!

Strategies to Pass the OA👨🏻‍🏫

To excel in the Objective Assessment (OA) for Enterprise Risk Management WGU D368, it’s crucial to have a thorough understanding of key subjects such as credit risk, market risk, risk mitigation, and the COSO, ISO, and NIST frameworks. Familiarize yourself with the roles of Chief Information Security Officers (CISOs), the differences between Key Risk Indicators (KRIs) and Key Performance Indicators (KPIs), and concepts like residual risk, reputational risk, operational risk, risk tolerance, and risk appetite. Additionally, a solid grasp of cybersecurity and insurance topics will be vital.

Many questions in both the Practice Assessment (PA) and the OA will be situational, requiring you to identify the risk or determine the best solution. Therefore, it’s essential to approach each question carefully, considering the specific wording to select the most appropriate answer. It’s common for several answers to appear correct, so take your time to choose the one that aligns best with the scenario presented.

Remember that the PA and OA are very similar, so use the practice assessments to your advantage. Review your answers and understand why certain choices are correct or incorrect. This preparation will help you become more comfortable with the question format and improve your decision-making skills under exam conditions. By focusing on these strategies and thoroughly understanding the key subjects, you’ll be well-prepared to pass the OA and succeed in Enterprise Risk Management D368.

External Resources to Utilize📂

  • Udemy course to understand Enterprise Risk Management concepts – Link
  • Additional Udemy course to study – Link
  • ERM concepts YouTube playlist by Executive Finance – Link
  • ERM concepts YouTube playlist by ERM Academy – Link
  • Free online course on Enterprise Risk Management and Analysis – Link

Conclusion 📄

As you embark on your journey through the Enterprise Risk Management D368 module, we encourage you to take the advice provided in this article to enhance your study approach. By focusing on the key subjects, understanding the course content, and practicing with the provided assessments, you can effectively prepare for the Objective Assessment. Utilize the study guide we’ve outlined to navigate through the material efficiently and address the situational questions with confidence. Remember, the strategies shared in this article are designed to help you not only pass the OA but also excel in it. Pay close attention to the details, apply your knowledge thoughtfully, and stay calm when faced with multiple seemingly correct answers. By doing so, you will be well-prepared to tackle the final exam successfully. We wish you the best of luck in your studies and in your Objective Assessment. With dedication and the right preparation, you will achieve your goals in the Enterprise Risk Management D368 module.

WGU D368 - How to pass the Enterprise Risk Management (2024)

FAQs

Is risk management a hard course? ›

The coursework itself is often rigorous and quantitative-heavy. Subjects like economics, statistics, and advanced mathematics are integral parts of the curriculum. Grasping these concepts is crucial since they form the backbone for assessing risk and making informed decisions regarding insurance policies.

What are the key points of enterprise risk management? ›

7 Key Elements of Effective Enterprise Risk Management
  • Business Objectives and Strategy. ...
  • Risk Appetite. ...
  • Culture, Governance and Taxonomy. ...
  • Risk Data and Delivery. ...
  • Internal Controls. ...
  • Measurement and Evaluation. ...
  • Scenario Planning and Stress Testing.

What is the first step in enterprise risk management? ›

Identify Risks

The first step in the ERM process is to identify the potential risks (and opportunities) that may affect the organization's objectives.

How do you manage enterprise risk management? ›

How to implement an effective enterprise risk management framework
  1. Step 1: Establish company objectives. ...
  2. Step 2: Identify risks. ...
  3. Step 3: Assess and prioritize risks. ...
  4. Step 4: Implement risk responses. ...
  5. Step 5: Monitor and report.

Is risk management a lot of math? ›

Risk managers need strong mathematics and statistics skills to complete a comprehensive risk analysis.

Why is risk management so difficult? ›

The most frequent challenges facing risk management decisions are usually the result of erroneous modeling, underestimating issues, or struggling to communicate concerns. One recurring mistake is mismeasuring known risk.

What are the 5 principles of ERM? ›

Elements of an Enterprise Risk Management Framework
  • Risk Governance and Culture.
  • Risk Appetite and Tolerance.
  • Risk Identification.
  • Risk Assessment and Measurement.
  • Risk Monitoring and Reporting.
Aug 2, 2024

What are the four pillars of enterprise risk management? ›

In this article, we will explore the four pillars of enterprise risk management that form the foundation of an effective risk management system.
  • The four pillars of ERM. ...
  • Understanding the risks faced by the company. ...
  • Gathering information and assessing risks. ...
  • Creating a risk profile. ...
  • Developing a response to potential risks.

What are the 5 components of enterprise risk management? ›

The five components of enterprise risk management are:
  • Company Culture, Governance, and Values.
  • Strategic Planning, Objectives, and Goal Setting.
  • Risk Management Cycle (COSO calls this “Performance”)
  • Monitoring and Continuous Improvement (COSO calls this “Review & Revision”)
  • Transparency, Communication, and Reporting.
Aug 8, 2023

What is an example of an ERM? ›

Examples include contract disputes, intellectual property disputes, employment law violations, data privacy violations or noncompliance with environmental regulations. These are risks that arise from damage to an organization's reputation, image or brand.

What is the difference between ERP and ERM? ›

ERM is primarily concerned with identifying, assessing, managing, and mitigating risks across an organization. On the other hand, enterprise resource planning (ERP) tools focus on integrating and optimizing core business processes.

What does r stand for in ERM? ›

ERM stands for Enterprise Risk Management. ERM is the process of identifying, assessing, and mitigating any event that poses a risk to an organization achieving its objectives or losing opportunities that can boost its competitive advantage.

What are the three major problems with Enterprise Risk Management? ›

Organizations face numerous challenges in successfully implementing ERM practices. Some of these challenges include the lack of support from senior management, the absence of a dedicated risk manager or chief risk officer, and the difficulty in identifying and measuring all types of risks.

How can I make my ERM effective? ›

This process comprises the following elements: 1) identifying risk on an iterative basis, with the net result being your universe of exposures; 2) assessing risk in a consistent and transparent manner, particularly focusing on severity and likelihood; 3) mitigating inherent risk severity and likelihood to an acceptable ...

What are the strategies of ERM? ›

Risk data and infrastructure are mechanisms for making sure we have good information to manage risks. Common strategies that are used in ERM include safety policies, ethical regulations, quality assurance, data-driven decision-making, contingency planning, risk education, and stress testing.

Essential Guide to Enterprise Risk Management ...ZenGRChttps://reciprocity.com ›

Fortunately, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) offers a comprehensive ERM framework to help you succeed, as does the I...
Enterprise risk management is the leading approach to managing and optimizing risks in order to enable a company to determine how much uncertainty and risk are ...
With the changing business environment brought on by events such as the global financial crisis, gone are the days of focusing only on operational and tactical ...

Is risk management a hard skill? ›

It's definitely not a soft skill -- or, at least, not just one. There are many types of risk, including compliance, security, operational, financial and reputational risks. Risk managers require a combination of both hard and soft skills to successfully address all the various risks.

How stressful is risk management? ›

Risk Management professionals often navigate complex uncertainties and must anticipate potential threats, which can be inherently stressful.

Is it hard to become a Risk Manager? ›

Risk managers generally need a college degree with a broad business background. Depending on the college or university you attend, you may be able to major in risk management or insurance. Many schools offer courses or degrees in insurance and risk management.

Is studying risk management worth it? ›

This is why most professionals who invest their time in a financial risk management certification to learn the necessary and key skills are able to enjoy attractive salaries. Risk managers are very valuable to their organizations and thus are remunerated equally well.

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