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1. Establish the context. Define and identify the environment, characteristics and stakeholders, their2. Identify and describe risk. Develop a risk profile. Risks are best identified through a collaborative 3. Conduct current risk analysis. An analysis of the risk is conducted to determine their causes, and estimate their probability and consequences. This analysis provides the basis for working on the “right risks”.4. Conduct risk evaluation. Risks are considered and prioritized according to their assessed to determine its level of acceptability.
d. signageRelevant signage.Prohibition SignsProhibition SignsMandatory SignsDanger SignWarning SignEmergency Information SignDetailed role descriptions of team members.Role of the directors➢Determining which type of risk are acceptable and which are not.➢Setting the standards and expectation of staff with respect to conduct.➢Approving major decisions affecting MacVille’s risk profile and exposure.➢Monitoring the management of significant risks to reduce the likelihood of potential organizational risk and threats or failure➢Begin satisfied that risk are being actively manage, with the appropriate controls in place and working effective.
➢Annual review of MacVille”s approach to risk management and approval of changes or improvements key elements of its processes and procedures.Role of the senior management team and managers.➢Implement policies on risk management and internal control where this is deemed appropriate➢Identify and evaluate areas of of significant risk potentially faced by MacVille for consideration by the directors.➢Identify areas where risk management is not adequately addressed and advise the directorsaccordingly.➢Review and update the risk management strategy.Role of Employees.➢Familliarise themselves with the content of the risk management policy and clarify any aspects necessary with a senior team member.➢Consider any risk they feel could impact on them meeting their objective and either manage the risk if it is in their control to do.➢Advise senior management , in fist instance, or the board, if concerned about any ➢fraud or unethical behavior.NamePositionDuties/importance to operations/reason for stakeholder interestJohn WuOperations Manager● Chair of FARM Committee and project owner: full decision-making powers for project ● overall responsibility for ensuring supply, production, supplier relationships ● monitoring supplies ● monitoring production expenses.