Reference no: EM132997431

RISK MANAGEMENT PLAN

PART A- ORGANISATION'S PROCESSES AND PROCEDURES

You are required to review the organizations current processes, procedures and requirements and develop a risk management plan in accordance with current risk management standards.

Choose at least three of the above-mentioned legislations/policies/procedures and explain them in detail. (do some research!!!!!) Make sure that they are relevant to the chosen organization!!!

· Define the operational environment and goal of your chosen company
Company's purpose: ....................................................

Company's main goals and activities: ...........................................................

· The intent of the risk management plan (e.g. safety of members, reduce liability)
Strategies already exist for managing risk: ..................................................

· Who does the risk management plan apply to?
Detailed stakeholder analysis:
Explain who your Potential external and Internal stakeholders are........

You will need to identify and analyse at least 5-6 risks faced by your chosen organisation.

Use the following measures of likelihood and consequence to categorise each risk in the matrix. Analysing risks involves an element of estimation.

Complete the following table to list the likelihood and consequence of each risk and to identify the subsequent risk rating.

These treatment options should form part of your risk management action plan. You will need to choose and explain how you are intending to treat those identified risks.

List each identified risk, the action(s) to be taken, a timeframe for completion, the person responsible for the action, and required resources (e.g. financial, human).

TASK 1- PART B - COMMUNICATION PROCESS

Communicate with relevant parties about the risk management process and invite participation. You are required to show some evidence of how the Risk management plan was communicated and implemented with your staff.

COMMUNICATION PLAN
Out line in this section how you will communicate the plan, for instance holding regular Meetings or Trainings to your staff. Provide a Meeting Agenda/ Meeting minutes or emails which shows the frequency and the topics are being discussed

TASK 1- PART C - IMPLEMENT AND MONITOR THE RISK MANAGEMENT PLAN

In this part of the assessment, you are required to show the actions and the timeline taken during the monitoring process. Complete a Hazard Identification Register (The last page- Appendix1)

TASK 1- PART D - EVALUATE RISK MANAGEMENT PROCESS

You are required to evaluate the risk management process and write a brief report on how effective it was and any recommendations on changes that should be made in the future. The report should outline an evaluation of how each point in the action plan was implemented and the effectiveness of the implementation.

When you monitor the effectiveness of control measures, it is helpful to ask the following questions:
• Have the chosen control measures been implemented as planned?
• Are the measures being used correctly?
• Are the chosen control measures working?
• Has the risk management process added value for your company?

Attachment:- RISK MANAGEMENT PLAN.rar