Project 1 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: -political environment -economic climate -social factors -legal factors – technological advancements -policy context -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? […]
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