Reference no: EM131858908 , Length: 1500 Words

This project entails you planning, conducting and evaluating a risk management program for an organisation. For the purposes of this project the term "organisation" can refer to a small business, work team or division in a large organisation, sporting group or family.

Examples - You could plan, conduct and evaluate a risk management program for an organisation in relation to:

The reduction of accidents, illnesses or incidents relating to worker or general public safety

Environmental impact issues - including resource use and management.

The need for new or innovative improvement/changes in processes or procedures (and associated risks)

Or. You may choose another risk area relevant to the organisation for which you work.

Complete each of the sections below in as much detail as possible.

Part 1 - Plan for enterprise risk management:

Identify an organisation that interests you.

List and Describe at least 3 of the organisations current risk management policies, procedures and processes and comment on what you consider to be the strength and weaknesses of these arrangements.

Describe the "scope" for the risk management process that you will conduct.- Explain why you decided upon this scope.

Discuss the impact that each of the following has on the organisations approach to risk management:
Political environment
Economic climate
Social factors
Legal factors
Technological advancements
Policy context.

Document critical success factors ( csf), goals or objectives for the area included in scope.

Identify each of the internal and external stakeholder groups and for each make a list of their issues.

Discuss how you will communicate (communication strategy) with each of these stakeholder groups, include details of:
Key messages
Delivery Strategies
How you will encourage input/participation.

Describe what level and type of support you need in order for your risk management plan to be effective and discuss the strategies that you will use in order to obtain that support.

Part 2 - Identify the risks:

Using a SWOT diagram , identify the risk that face the company

Make a list of the other tools and techniques you could use in order to generate a list of risks that apply to the scope.

Part 3 - Analyse the risks:

Assess the likelihood of the risks occurring
Assess the impact or consequences if risks occur
Depict the risks on a risk matrix
Evaluate and prioritise risks for treatment.

Part 4 - Select and implement treatments:

Determine the most appropriate option/s for treating the top 3 risks that you have identified.
Develop an action plan for implementing those risk treatments
Explain how you will communicate the action plan information to the relevant parties
What documentation is needed and how will it be completed and stored
Describe what steps you will take to implement your risk management action plan
Discuss how you will monitor the action plan to ensure that it meets its identified goals
Explain how you will evaluate the process that you have used to manage these risks

OTHER :
To successfully complete this project students are required to address each of the dot points in sufficient details as to demonstrate that they understand the underpinning principles and theory and are able to apply these to a practical situation.

The project should be based on a real life scenario and discuss real risks.

The action plan must contain enough detail to be able to put into practice

The project will be a maximum of 1500 words.