Family Name: LEITE DA CUNHA Given Name: LETICIA Student ID: Course: S40057056 PROJECT MANAGEMENT Subject: Trainer’s name: RISK MANAGEMENT 2 Declaration: I certify that this assignment is entirely my own work. I have provided full referencing to the work of others. The material in this paper has not been submitted before. IMPORTANT – READ THIS FIRST PLAGIARISM : You must compose your answers in your own words . Simply pasting text from the Internet OR the APC workbook may result in a failing grade . It is better to write your own thoughts in your own words – even if your English is not perfect – rather than copy word-for-word the thoughts of someone else. SUBMITTING IDENTICAL ANSWERS : You may discuss your assessments with other students, but submitting identical answers to other students may result in a failing grade . Your answers must be yours alone. TUTORIALS: Tutorials are run every week to help you answer the assessments. The schedule for tutorials will be announced during the first week of term. You are urged to attend the tutorial that pertains to your online subject.
1. a. Explain why you (representing the organisation) would review its existing risk management practices (policy, procedure, process). (3 marks) Analyzing existing risk management practices is important because of the possibility of establishing a context that clarifies the vision, mission, and objectives of your organization. In addition, the broader environment in which your organization operates is identified, defining the scope, objectives for the risk management process and how it will be measured. In addition to being involved in the risk assessment process. Good communication and consultation is essential for risk management and helps people better understand risk management processes by ensuring that all stakeholders are heard and accountable for their roles. Strategies such as Brainstorming at a staff meeting and with stakeholders with relevant knowledge and experience, systematic analysis (flowchart systems and processes, premises) and relevant data search (accident rates, insurance claims, death rates) are essential for identify, analyze, evaluate and treat risks. Monitor and review risks in your organization through an ongoing process of risk management, whether the effects of treatments are appropriate and effective, and the new risks that need to be digitized. b. Provide the rationale for the review (2 marks) For the risk management process it is necessary to establish a context, in addition to communicating, identifying, analyzing, evaluating, treating, monitoring, and reviewing the risks in your organization. Thus ensuring that processes are more appropriate and effective. c. List the benefits of doing the review. (2 marks) Clarify the vision, mission and objectives of your organization; identify the broader environment in which your organization operates. Define the scope and objectives for the risk management process and what will be involved in the risk assessment process.
You've reached the end of your free preview.
Want to read all 9 pages?
- Three '17
- risk management process