Reference no: EM131459046

Identify and Measure Risk

Based on this reading and research develop a 2-3 page Word document for this assignment. Please analyze the following scenario and complete the following:

1. Identify the types of risks that are outlined in the scenario
2. Provide an explanation of the risks
3. Explain how you would measure the risks
4. Provide an example of how you would prevent or mitigate the risks in the future.

Scenario

The Forestry Project

Green Mountain Timber Company provides land clearing, purchasing, and harvesting of lumber. Recently the young company landed a contract with the Virginia Department of Transportation to clear a right-of-way for the local gas company. Part of the contract provides that the company will employ local skilled residents for at least 20 percent of the jobs.

On the second day of cutting, the large BK 42 log loader machine had a mishap. The driver, a 21 year old local highway contract worker backed the loader into a shallow ditch. It slowly tipped sideways onto a chipping machine. Two workers sustained minor cuts and bruises but no one was seriously hurt. The BK 42 log loader suffered a broken lift arm while the much smaller chipper was all but destroyed.