Design, develop and document a risk management plan
This project will enable you to produce end products suitable for use in the workplace. Design, develop and document a risk management plan related to:
-the reduction of accidents, illness or incidents relating to the worker or general public safety
-the prevention of operational discontinuity
-the need for new or innovative improvement/ changes in processes or procedures (and the associated risks)
-environmental impact issues—including resource use and management
You might choose another risk area relevant to the organization for which you work. If you do you will need to describe the organization and the risk being addressed in terms of industry sector requirements. Give clear and succinct reasons for initiating and implementing the risk management plan. You will need to:
1. Establish the context of the risk.
2. Identify the risk/s.
3. Analyze the risks.
4. Select and plan risk management treatments.
Describe the processes followed to address all of the settings:
-any current risk management policies, procedures and processes, and their strengths and weaknesses
-the risk management scope
-the impact that each of the following has on the organization’s approach to risk management:
- technological advancements
-tools and techniques that can be used to identify, measure (quantify) and analyze (assess) risks
-critical success factors, goals or objectives
-relevant legislation, regulations or codes of practice
-internal and external stakeholder groups and their issues
-communication with each stakeholder groups
-the support that will be needed in order for the risk management plan to be effective
-procedures for prioritizing risk treatments
Address all of the following questions:
What is the situation?
What are the risks associated with the situation?
How were the risks identified and assessed?
What controls currently exist?
What is the desired situation?
What are the risks associated with the desired situation?
How have they been identified and assessed?
How does the risk management plan actions to reduce the impact or consequences of the risk/s?
Does it introduce any new risks?
Who will the plan benefit and how will it be of benefit?
Why should the organization support it? (consider qualitative and quantitative benefits, costs, PR, safety, etc)
What resources and what personnel would be involved in developing, implementing and monitoring the planned risk controls?
What are the cost factors involved?
How would you ensure that the risk treatment was sponsored and supported by the organization?
Whose authorization would you need in order to go ahead with your plan?
How would you determine performance expectations?
How will you monitor the operation of the plan?
Who would be responsible for monitoring the risk controls and why would this person (people) be most suited to the task?
How will you measure its success? (ie what measurement processes will you use and what will you measure its success against?)
Format your risk identification, analysis and improvement plan/ proposal (or action plan) in a manner that would be accepted by senior management. Ensure that all risk scenarios are addressed and catered for.
answers to the questions
the plan rationale
tools used in the assessment process and in the plan design process
any relevant support information, charts, graphs, etc
The plan must clearly describe the risk, proposed actions, resource needs, responsible persons, time frames, deadlines, expected outcomes and suc
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