Risk Matrix and action plan for risk management - Ref IDENTIFY RISK DESCRIBE RISK INHERENT RISK RISK TREATMENT 1 2 3 Risk of fluctuation in price

Risk Matrix and action plan for risk management - Ref...

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Ref IDENTIFY RISK DESCRIBE RISK INHERENT RISK RISK TREATMENT MITIGATION Likelihood Consequence Risk Level 1 Risk of fluctuation in price of fuel price Fuel is the main cost of business, and fluctuation in price can cause high cost in operation and difficulty in financial management 4 5 H -hedging and fixed price for period of time -find alternative fuel when the price of jet fuel is cost too high 2 Exchange rate risk There is exchange of currency which can lead to loss when exchange 4 3 M -better forecast of cost and revenue, better financial management -Fixed currency exchange rate in future exchange 3 Risk of ineffective forecast Forecast of sales and price of fuel in the future can be risk when doing hedge strategy 3 3 M -Training is needed -market research will help to get more accurate forecast -team to follow fuel price and alternative fuel Risk Management matrix- This Risk Register provides specific guidance on relevant issues that may arise in relation to our course delivery program in Australia.

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