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Appendix 1 - Risk Management Plan.docx - 1. Introduction...

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1. IntroductionRisk management is a set of technique of controlling and avoiding threats to business organization. Inthis scenario, the Rosehill college relocation and refurbishment of new knowledge managementsystem includes many risks that potentially can stop or impact the project objectives. Riskmanagement is a continuous process and works throughout the life of the project towardsmonitoring all risk factors.It focuses on controlling all possible future events by analysing various past information like theprobability of occurrence, historical data, lessons learned etc. Risk management supports theorganisation in the achievement of their goals by ensuring that all activities are running on theirnormal track. It develops a safe and secure work environment for all staff and customers andincreases the stability of business operations.Risk management aims at efficient utilisation of all resources. Fuller utilisation leads to betterproductivity and increased profits. Risk management techniques support strategic planning for betterresults. It sets plans for functioning of business and ensures that all activities are going on theirplanned track. Certain targets are set for each division within organisations and perform routinecheck-ups from time to time. If any deviations arise, it takes all possible steps.2. Risk Management ObjectivesRisk management plan develops better communication and information sharing network betweenthe directors, managers and employees. Following are some major risk management objectives:It helps in spreading information regarding the risk for Rosehill college relocation andrefurbishment of new knowledge management system.

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Term
Spring
Professor
janwey
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