Strengths And Methods Of Risk Analysis And Risk Management

Strengths And Methods Of Risk Analysis And Risk Management
NAME: SIPHAMANDLA E NOBADINA STUDENT NUMBER: 25452762 LECTURER: MS
S.FERREIRA GROUP NMBER: TWO (2) DUE DATE: 07/04/2016
Table of Contents
INTRODUCTION ........3
BACKGROUND OF RISK MANAGEMENT 3
BENEFITS OF RISK MANAGEMENT 3
DEFINATION OF RISK 4
DEFINATION OF RISK MANAGEMENT 4
LIST OF STEPS OF THE RISK MANAGEMENT PROCESS 4
DETERMING RISK OBJECTIVE AND RISK
IDENTIFICATION...................................................................5
RISK ANALYSIS AND RISK
EVALUATION...................................................................................................................................................
6
RISK
TREATMENT................................................................................................................................................7
CONCLUSION ................................................................................................................................................
8
REFERENCES......................................................................................................................................................
9
INTRODUCTION
Risk management is an action which incorporates acknowledgment of risk, risk evaluation, creating
procedures to oversee it, and moderation of risk utilizing administrative assets. Some customary risk
managements are centred on risks coming from physical or lawful causes (e.g. characteristic catastrophes or
flames, mishaps, demise). Budgetary risk management, then again, concentrates on risks that can be
overseen utilizing exchanged monetary instruments. Goal of risk management is to lessen distinctive risks
identified with a ... Show more content on Helpwriting.net ...
The group looked for the perspectives and suppositions of an extensive variety of other proficient bodies
with hobbies in risk management, amid a broad time of conference. Risk management is a quickly creating
discipline and there are numerous and fluctuated perspectives and portrayals of what risk management
includes, how it ought to be led and what it is really going after. Some type of standard is expected to
guarantee that there is a
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Risks Management : Risk Management
Introduction:Risk is for all intents and purposes anything that debilitates or limits the capacity of a group or
philanthropic association to accomplish its main goal. It can be startling and erratic occasions, for example,
devastation of a building, the wiping of all our PC records, loss of stores through robbery or harm to a part
then again guest who stumbles on a tricky floor and chooses to sue. Any of these or a million different
things can happen, and on the off chance that they do they can possibly harm our association, money loss,
or in a most dire outcome imaginable, cause your association to close.[1]
Risk Management:Risk management is the procedure of distinguishing risk, surveying risk, and making
moves to diminish risk to a worthy level. The risk management methodology decides the procedures,
strategies, instruments, and group parts and obligations regarding a particular task. The risk management
plan portrays how chance administration will be organized and performed on the venture. As an
administration procedure, risk management is utilized to recognize and maintain a strategic distance from
the potential cost, timetable, and execution/specialized dangers to a framework, take a proactive and
organized way to deal with oversee negative results, react to them on the off chance that they happen, and
distinguish potential open doors that may be covered up in the circumstance. The risk management
approach and arrangement operationalize these administration

RISK MANAGEMENT
Risk Management Plan for the Charming Cafe
reference: Version 1.0: date: 7/28/2014
VERSION HISTORY
Version #
Implemented
By
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Date
Approved
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TABLE OF CONTENTS
1 Introduction................................................................................................1
1.1 Project Summary............................................................................3
1.2 Project Scope.................................................................................5
1.3 Project Task(WBS).........................................................................7
1.4 Purpose of Risk Management Plan.......................................................8
2 Risk Management Planning...........................................................................8
2.1 Process........................................................................................8
2.2 Risk Identification...........................................................................9
2.3 Risk Analysis...............................................................................17 ... Show more content on
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6.0 Food Safety and Quality
6.1 Training Associates
7.0 Maintenance
8.0 Contract and Agreements
8.1 Obtaining Suppliers
8.2 Obtaining Insurances
9.0 Regulatory Requirements
9.1 Fire Locations
9.2 Alarms

1.4 Purpose Of The Risk Management Plan
A risk is an event or condition that, if it occurs, could have a positive or negative effect on a project's
objectives. Risk Management is the process of identifying, assessing, responding to, monitoring, and
reporting risks. This Risk Management Plan defines how risks associated with the Charming Café project
will be identified, analyzed, and managed. It outlines how risk management activities will be performed,
recorded, and monitored throughout the lifecycle of the project. It details how risk are prioritized. The Risk
Management Plan is created by the project manager in the planning phase and is monitored and updated
throughout the project.
1 risk management assessment
2.1 Process
The project manager working with the project team and project sponsors will ensure that risks are actively

Research Proposal : Risk Management
Research proposal
Stephen Ebonine
Birkbeck College, University of London
Introduction
Risk Management is a relevant task in a management such as marketing, purchasing and finance. If we look
at its functional aspect, we can easily observe that is used by every country to direct the realisation of the
economic objectives. The Oxford English dictionary defines risk as" possibility of danger, loss, injury or
other adverse consequences"
To give a technical definition of risk we have to subdivide it in different stages and examine all its different
aspects. At the first stage the term risk was only used to identify the threats in management and later
extended to threats that could impact on the all organization. The "Australia/New Zealand standard (1999)"
defines risk as: the chance of something happening that will have a serious impact in the organization.
Summary
The recent economic negative events of 2008 and 2009 have significantly affected various organizations, so
that's why the majority of them are trying to introduce some relevant changes on their risk management
practices and the management teams are asked to participate actively in risk assessment and risk
management initiatives.
The purpose of this research proposal is to discuss the role of risk management in an organization and
examine the possibility of reassessing and implementing risk management.
Literature Review
The concept of risk has been always at centre of all the finance theory and practice

Risks Of Risk Management Discipline Essay
Risk is the chance that the actual return from an investment may differ from what is expected. (Hickman, K.
A., Byrd, J. W., & McPherson, M. 2013) Risk management discipline has evolved and expanded over the
years and has shifted the focus from financial risks to a broader perspective with strategic risks. (Bugalia, J.,
& Kallman, J. 2012) Risk management involves; organizing, planning, controlling, leading and allocating
resources and make decision for the organization for a success path. To achieve this component in running
of a business, measures have been devised to identify and analyzed the uncertainties associated. This paper
discusses the techniques devised by Dr. James Kallman, in comparison to those of other risk management
experts.
Risk managers have new and different responsibilities that need a new set of skills to help carry out these
new responsibilities. (Bugalia, J., & Kallman, J. 2012) They are expected to come to a decision for an
organization with successive analysis. The process of risk management technique helps provide a guide to
the realistic actions to take when setting an organizational goal and standard operating procedures with
evaluation of the organization's resources, internal and external environment. Problems can be defined by a
combination of political, economic, social, technological, legal and environmental factors with fuzziness,
incompleteness and randomness. (Forbes, D. R., Smith, S. D., & Horner, R. W. 2010) Some techniques that
Dr.

Risk and Quality Management Assessment
Risk and Quality Management Assessment Summary
Yolanda Mercer
HCS/451
August 4, 2014
Dorothy Webb–Moody
Risk and Quality Management Assessment Summary
Risk and quality management are two key concepts that help run a successful business. Risk and quality
management programs provide techniques, tools, and different methods for health care organizations. Using
risk and quality management programs ensure organizations provide quality health care. Novant Health is
an integrated system of outpatient centers, hospitals, and physician practices located in Winston–Salem, NC
and Northern Virginia. They pride themselves on providing the best quality care for the people for their
community. This executive summary will provide their current ... Show more content on Helpwriting.net ...
2. Consider alternative risk techniques– According to Carroll (2009), "Risk treatment strategies include two
general categories: risk control and risk financing" (para. 1). Controlling risks involves preventing losses
and mitigating the amount of losses; risk financing involves paying for losses that occur. As stated earlier
Novant Health takes risk management seriously. The organization engages in practices that help reduce
risks; a key practice is participating in continuing medical education. To control risk financing, Novant has
a risk retention group that specializes in medical malpractice liability coverage for preferred risk physicians.
3. Select the best risk management technique or combination–According to Carroll (2009), "Health care
organizations accept a certain amount of patient care liability risk through an insurance deductible or self–
insured retention" (para. 5). Novant works to evaluate market rates and offer package malpractice coverage
based on the practice's needs.
4. Implement selected techniques– Carroll (2009), stated "The implementation process involves both
technical risk management decisions that are made by risk management professionals and related decisions
that are made by other managers within the organization" (para. 4). New Star Program was implemented to
impact medical malpractice

The Risks Of Risk Management
The ability to understand and quantify risk, is of the utmost importance. This is something that can be used
to define the precise ways that risk should have the ability to be managed, and the precise way that risk
should be dealt with on a macro level. It is important to understand that risk management is an excellent
medium in which risk could be mitigated. This is an important variable that must be understood in this case,
as there are many potential risk areas that the firm must deal with. By taking on a macro integrated
approach, the ability to understand with and better deal with risk will continue to be present. The risk
management plan must be based in reality, and have an understanding of the precise implications of what
can go wrong. The paradox in this case is based upon the precise issues that have arisen from a federal
perspective. Although Marijuana is legal in the state of Colorado, there are still federal mandates that create
issues in terms of cash flow management (Carson, 2014). In this case the company Blue Dream , is facing
this horrid reality. This has created an environment that has increased multiple risk factors making the firm
very reactive to the overall external environmental needs. In order to mitigate and limit these specific risks,
there needs to be a strategic focus on how risk could be anticipated as well as dealt with. The creation of an
effective risk management plan, can be used and applied to quantify the potential risks, and find ways

Identification and Assessment of Risk in Risk Management
Risk management is the process of taking actions to avoid or reduce risk to acceptable levels. This process
includes both the identification and assessment of risk through risk analysis and the initiation and
monitoring of appropriate practices, in response to that analysis, through the agency's risk management
program. Risk assessment is a critical component of that process to ensure state agencies have an effective
risk management plan in place. Risk Management and Risk Assessment are major components of
Information Security Management. Risk Assessment is part of the Risk Management process. After
initialization, Risk Management is a recurrent activity that deals with the analysis, planning,
implementation, control and monitoring of implemented measurements and the enforced security policy. On
the contrary, Risk Assessment is executed at discrete time points (e.g. once a year, on demand, etc.) and –
until the performance of the next assessment – provides a temporary view of assessed risks and while
parameter zings the entire Risk Management process.
Financial institutions in particular must maintain an ongoing information security risk assessment program
that effectively gathers data regarding the information and technology assets of the organization, threats to
those assets, vulnerabilities, existing security controls and processes, and the current security standards and
requirements, analyses the probability and impact associated with the known threats and

Value At Risk And Risk Management
Value at Risk Framework or VAR framework is mainly used for financial risk management or financial
mathematics in measuring the risk element on a definite portfolio of financial assets, present in any
economic organization. This particular portfolio comprises of time event and probability, which states the
threshold of the risk loss value over the period of time. These risk loss values are assumed to be according
to the market to market pricing, no trading and normal market which contributes in this risk valued
portfolio. The risk management of Value at Risk is done by risk managers which are responsible for
measuring and controlling the risk levels that are present in an organization. Considering the modern
portfolio theory, the third constituent of portfolio is amount of investment which then creates a mean–
variance framework risk. This framework risk is defined in terms of possible variation in the expected
portfolio which will describe the risk value loss in financial assets of an economic organization.
The Value at Risk framework and management help an organization in analyzing the risk loss in the
financial resources, which increase its use in many businesses, organizations and institutions. (Hassan,
2009) The organization use this VAR framework in analyzing the potential losses in many risk management
ideas which include stress testing, backtesting, expected shortfall, tail conditional expectation and economic
capital. These are the few important ideas that have been

Project Risk Management
Risk ( the effect of uncertainty on objectives, whether positive or negative) the probability of unfortunate
events . Risks can come from uncertainty in financial markets, project failures, legal liabilities, credit risk,
accidents, natural causes and disasters as well as deliberate attacks from an adversary. Project finance is
different from traditional forms of finance because the financier principally looks to the assets and revenue
of the project in order to secure and service the loan. In contrast to an ordinary borrowing situation, in a
project financing the financier usually has little or no recourse to the non–project assets of the borrower or
the sponsors of the project. In this situation, the credit risk associated with the ... Show more content on
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The financing is typically secured by all of the project assets. Project lenders are given a lien on these
assets, and are able to assume control of a project if the borrowers have difficulties complying with the loan
terms.
Project financing discipline includes understanding the rationale for project financing, preparation of the
financial plan, assessment of the risks, designing the financing mix, and raising the funds. In addition, one
must understand the cogent analyses of why some project financing plans have succeeded while others have
failed. A knowledge–base is required regarding the design of contractual arrangements to support project
financing; issues like the host of legislative provisions, government and administrative constrains, public
and private infrastructure partnerships, public and private financing structures; credit requirements of
lenders, how to determine the project 's borrowing capacity; how to prepare cash flow projections and use
them to measure expected rates of return; tax and accounting considerations; and analytical techniques to
validate the project 's feasibility.
Project finance is finance for a particular project, such as a mine, toll road, railway, pipeline, power station,
hospital, which is repaid from the cash–flow of that project. Project finance is different from traditional
forms of finance because the financier principally looks to the assets and revenue of the project in order to
secure and service

Security Risks And Risk Management Process
Abstract:
Protecting the data related to health sector, business organizations, information technology, etc. is highly
essential as they are subject to various threats and hazards periodically. In order to provide security, the
information has to adapt to certain risk analysis and management techniques which has to be done
dynamically with the changes in environment. This paper briefly describes about analyzing the security
risks and risk management processes to be followed for electronic health records to ensure privacy and
security.
Overview of Security Risk Management:
Security is being free from threats. The term can be used with reference to crime, accidents of all kinds, etc.
Security is a vast topic including security of countries against terrorist attack, security of computers against
hackers, home security against thieves and other intruders, financial security against economic collapse and
many other related situations. Security risks are often at the base of many other risks associated with
eHealth. The data present in the Electronic Health Records that are recorded, maintained or transmitted by
the third party devices and so, must be secured in order to protect the information from breaches such as
anticipated threats or hazards. These security measures must be managed as eliminating all threats is
impossible, and so, health organizations will periodically conduct a risk analysis to determine their possible
exposure and find the best way to manage the risks

Risk Management Plan For A Company
Risk Management
The process that helps project managers follow when they need to calculate, identify, and manage risk in a
company is defined as Risk Management. When a company faces risk, risk management would be the ideal
solution to use that to solve the known and unknown risks. Risk management plans should be ready to help
reduce and prevent those risks because most risks in a company are uncertain. When a company is facing
risks that are uncertain, these risks come up very fast and they could be potentially harmful. They should be
treated right away. Of course the work must be performed first as long as they are not of sever threat.
Perform the work as planned keeping in mind those uncertain risks.
Some risk management plans requires ... Show more content on Helpwriting.net ...
This can ensure that employees are focused on their jobs and not getting distracted. Another prevention
method could be moving dangerous equipment's to a different side of the factory where special safety
precautions are implemented. Performing necessary maintenance on factory equipment can also reduce the
likelihood of an accident. (Larcker and Miller, 2014). Having regular safety meeting with employees can
reduce factory accidents. Managers have to be involved to make sure employees are safe at the workplace.
These are some of the precautions we can take to prevent the likelihood of a risk.
There are prevention methods available for companies to use, these are: risk management techniques which
include risk avoidance, loss control, risk retention, and risk transfer, risk mitigation plan, risk analysis,
mitigation plan implementation, risk assessment table, and risk matrix.
Areas of Risk Management
There are many areas to focus on when it comes to risk management, depending on your company's
infrastructure; risk management is going to be different. The areas of risk management will include
compliance risks, financial risks, operational risks, and strategic risks.
Compliance risks will involve industry standards and regulatory and statuary standards. Financial risks will
include loss of revenues, exchange rate losses, purchasing practices, performance and schedule, and
lawsuits for facility injuries.

The Failure Of Risk Management
Hubbard is very contemptuous of much of the Risk Management practiced by organisations. Do you agree
with his comments and suggested methods of managing analysis of risks?
In The failure of risk management– why it's broken and how to fix Hubbard has put a very good argument
regarding the failure of old risk management techniques. Hubbard has tried to show how the risk
management methodologies and techniques used currently by many organisation lack scientific and
mathematical approach towards risk management.
Hubbard has asked 3 basic questions in his book based on the several risk management methodologies
1. Do these risks management methods work?
2. Dose the organisation's using these methods know if these methods didn't work?
3. What are the consequences if they didn't work?
In my opinion Hubbard has put the very strong argument in his book, as many organisations have adopted
risk management systems. But the problem is, the systems are not backed up by measurable scientific
results and often can actually make things worse. After reading the text I don't think that Hubbard is being
contemptuous of the risk management practices but he is trying to identifying new ways of better utilising
these methods.
After reading the book we can see that Hubbard is a strong advocate of quantitative risk management
techniques such as Monty Carlo simulation. However, he believes that they are often used incorrectly.
Specifically,
1. They are often used without empirical data or validation

Foreign Exchange Risk Management
REVIEW 1 The survey of foreign currency risk awareness and management practices in Tanzania
REVIEW OF LITERATURE
Foreign exchange risk management
Foreign currency exchange risk is the additional riskiness or varience of a firm's cash flows that may be
attributed to currency fluctuations (Giddy, 1977, Brigham and Ehrhardt, 2005). Normally, foreign currency
risk exists in three forms; translation, transaction and economic exposures.
Foreign currency risk management involves taking decisions which aim at minimizing or eliminating the
negative effects of currency fluctuations on balance sheet and income statement values, a firm 's receipts
and payments arising out of current transactions, and on long term future cash flows of a firm. ... Show
more content on Helpwriting.net ...
Using a unique set of data containing complete foreign currency spot and derivatives positions of Korean
exporting firms, we empirically find that currency position–squaring firms have significantly higher firm
value. We also find evidence that these firms time the currency market when they manage their currency
cash position. Meanwhile, firms time the credit market when they determine the use of foreign currency
debts. Strikingly, firms still time the market even when they conduct derivatives hedging and synthetic
hedging. Our findings are consistent with the market timing theory of capital structure.
The second essay examines what determines banks‟ exposure to foreign currency risks, their management
of these risks, and the relationship to the probability of bank failures. Using a unique data set of Korean
banks with detailed information on their foreign currency risk exposures and hedging positions, we find that
banks‟ foreign currency position mismatches, maturity mismatches, and debt roll–over risks are
significantly attributed to their dollar carry lending strategy, which is stimulated by market timing of
corporate firms, short–maturity dollar borrowings, real estate market booms, and dollar interest rate
tightening. We also find that banks‟ foreign currency exposures significantly increase their financial distress
likelihood through dollar carry

Risks Of A Proper Risk Management
4. Hazard Register
Each event will have risks, no matter what size or nature of the event. It is very important for the event
organiser to identify and manage these risks. A proper Risk Management can effectively manage and reduce
risks. For Children's Day, there are several noticeable Health and Safety issues pertaining to the event
because much more kids and minors will present on the event. In order to know what risks need to be
managed and controlled, it is necessary to pre–plan Event Health & Safety – with a focus on hazard register.
The following table (Table 4–1) illustrates the hazard register for this event (Event Risk Assessment
Example / 04).
Hazard Register (Table 4–1)
Hazard
Significant
(Y/N)
Eliminate, Isolate or Minimise
( E/I/M )
Existing or
Potential
Control
Responsibility
Slips, trips and falls due to uneven ground or event infrastructure
Y
E
Potential
Devise different colours of bunting to show hazardous areas or uneven ground. Ensure that all event
infrastructure are clearly visible and that there are no obstructions in pedestrian walkways.
Site Supervisor
No shade from sun
Y
M
Potential
Shade available from surrounding trees.
Sunscreen provided by St John
Refreshments for sale on site
Site Supervisor
St John
Organiser
Falling equipment /trees

Y
E
Potential
Delay or cancel the Event if there is a high wind
Organiser
Delivery vehicles occupying a footpath to unload equipment and the public walking on to the roadway
Y
E
Existing
Reserve another parking

Risk Management
02–046
Copyright © 2002 Lisa K. Meulbroek
Working papers are in draft form. This working paper is distributed for purposes of comment and discussion
only. It may not be reproduced without permission of the copyright holder. Copies of working papers are
available from the author.
Integrated Risk
Management for the
Firm: A Senior
Manager's Guide
Lisa K. Meulbroek
Harvard Business School
Soldiers Field Road
Boston,MA 02163
The author gratefully acknowledges the financial support of Harvard Business
School's Division of Research. Email: Lmeulbroek@hbs.edu
Abstract
This paper is intended as a risk management primer for senior managers. It discusses the integrated risk
management framework, emphasizing the connections between ... Show more content on Helpwriting.net ...
It usually involves the hedging of contracts or of other explicit future commitments of the firm such as
interest rate exposures on its debt issues. Consider a U.S. dollar–based firm that buys steel from a Japanese
firm for delivery in three months. The U.S. firm may decide to "tactically" hedge the dollar price of its steel
purchase. By using forward currency contracts, the firm locks–in the dollar cost of its steel purchase,
offsetting the effect of dollar–yen exchange rate movements that may occur before delivery and payment.
The treasurer's office of the firm typically executes such tactical currency hedging, which is generally
undertaken in a non–integrated fashion without consideration of other hedging or insuring activities carried
out in the firm. This is so even when the risks across units are significantly correlated. In contrast, strategic
currency hedging addresses the broader question of how exchange rate fluctuations affect the value of the
entire firm. It takes into account how those fluctuations affect the firm's competitive environment, including
the pricing of its products, the quantity sold, the costs of its inputs, and the response of other firms in the
same industry.
Exchange rate risk is, of course, only one potential risk a firm faces. Managers using an integrated risk
management approach must depart from the standard practice of viewing each risk in isolation. Instead,
managers must

Risks And Risks Of Risk Management
Introduction
In this essay, I will be talking about Risk Management. What is Risk Management? Risk Management is
identifying potential risks that could arise whilst developing a software product and taking specific
measures on how you could prevent these risks from occurring. Risks not only have an impact on software
product, but also have an impact on the overall project and the business organization, therefore it is
important to know what a risk is and how to minimize it. (Sommerville, 2010)
What is a risk? A risk is "uncertain events that are capable of affecting the achievement of project
objectives" (Sommerville, 2010,p1) This shows that risks are likely to occur at any time whether it brings a
negative or positive impact. Mostly you would think of risks implying a negative outcome to a business
project or software product, however this is not always the case. Risks can also convey potential
opportunities to a project and product. For example, receiving high demands of new software product that's
a positive risk. The various risks category out there are Project risks, Product risks and Business risks which
are all important as each other. A Project risk is a risk that has a huge impact on the objectives of the project
as well as how tasks are scheduled. An example of a Project risk would be having to make an employee
redundant due to project budgets or current economy conditions. This leaves the project in a state as new
employees might not have the necessary skills

Risk Management
What is Risk?
A. Uncertainty Concept–risk traditionally has been defined as uncertainty
B. Objective Risk
1. Defined as the relative variation of actual loss from expected loss
2. Declines as the number of exposure units increases
3. Is measurable by using the standard deviation or coefficient of variation
C. Subjective Risk
1. Defined as uncertainty based on one's mental condition or state of mind
2. Difficult to measure
II. Chance of Loss
A. Objective Probability
1. A priori–by logical deduction such as in games of chance
2. Empirically–by induction, through analysis of data
2 Rejda Principles of Risk Management and Insurance, Tenth Edition
B. Subjective Probability–a personal estimate of the chance of loss. It need not ... Show more content on
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Many insurance authors traditionally have defined risk in terms of uncertainty. We define risk as uncertainty
concerning the occurrence of a loss.
(b) Objective risk is the relative variation of actual loss from expected loss. As the number of exposure units
under observation increases, objective risk declines. Subjective risk is uncertainty based on one's mental
condition or state of mind. Accordingly, objective risk is measurable and statistical; subjective risk is
personal and not easily measured.
4 Rejda Principles of Risk Management and Insurance, Tenth Edition
2. (a) Chance of loss can be defined as the probability that an event will occur.
(b) Objective probability refers to the long–run relative frequency of an event based on the assumption of
an infinite number of observations and no change in the underlying conditions.
Subjective probability is the individual's personal estimate of the chance of loss.
3. (a) Peril is the cause of loss. Hazard is a condition that creates or increases the chance of loss.
(b) Physical hazard is a physical condition that increases the chance of loss. Moral hazard is dishonesty or
character defects in an individual that increase the chance of loss. Morale hazard is carelessness or
indifference to a loss because of the presence of insurance. Legal hazard refers to characteristics of the legal
system or regulatory environment that increase the frequency or severity of losses.
4. (a)

Risk Assessment and Risk Management
Risk assessment and risk management
Introduction
There are many hazards associated in an industrial workplace. With new technologies, new machinery and
constant updates with regulations it is more important now than ever before to produce efficient risk
assessments. Good risk assessments reduce hazards and fatalities in dangerous areas in the workplace. A
good risk assessment will make workers feel safer and therefore happier and promotes a good business
structure within the company. A good risk assessment will help prevent legal action against the company
therefore saving the company money.
Identifying Hazards
When looking at a general workshop there are several hazards that could potentially cause an accident. In
this section, I will ... Show more content on Helpwriting.net ...
Accidents with tools
The engineers have to use tools to carry out maintenance work, tools include small pocket knives,
screwdrivers, drills, ratchet sets etc. There is the need of tools to do maintenance so the likelihood of
incidents and accidents is very likely (Frequency: 4), severity is not as bad as there are a lack of dangerous
saws and other dangerous tools etc. Cuts from electrical/ metallic equipment are also likely as well but
shouldn't be too severe (Severity: 3).
Trip/Slip Hazards
Trip hazards come from misplaced boxes, pallets and other items that have been misplaced. Slip hazards
can come from a leaky roof or spilled drink, these incidences can often occur (Frequency: 3) but they
usually don't do too much damage but on rarity can be fatal (Severity: 2).
Oxidising Hazards
There are no real chemicals within the workplace that can cause oxidising problems or need constant
ventilation, therefore any oxidising accidents should be extremely rare (frequency: 1) but if they was a
miraculous incident, it could cause an explosion (Severity: 5).
Environment Hazards
There is waste in the workshop that can be harmful to the environment, such as disposing old batteries that
have Ni–Cad Acid which can harm the environment /animals. Waste and rubbish is of a high quantity and
should be exposed of properly using the correct authorities. The amount of rubbish thrown out of the

A Research On Enterprise Risk Management
Enterprise Risk Management
Introduction
The business environment is constantly changing; it is unpredictable, extremely volatile and complex. This
makes businesses exposed to risk because of the nature of the environment. It is therefore important for
businesses to make strategic decisions on how to either reduce or make the effect of the risk less severe as
much as possible. Businesses have to identify and manage their risks to ensure their success and
continuation. According to the Committee of Sponsoring Organizations of the Treadway Commission
(COSO), "Uncertainties present both risks and opportunities, with potential to erode or enhance value.i Risk
management is an increasingly important business driver and stakeholders have become much more
concerned about risk. The 2008–2009 global financial crisis and the rapidly deteriorating global economy
has created a context in which companies now face risks that are more complex, more interconnected, and
potentially more devastating than ever before. Failure to adequately acknowledge and effectively manage
risks associated with decisions being made throughout the organization can and often do lead to potentially
catastrophic results.ii Risk may be a driver of strategic decisions, it may be a cause of uncertainty in the
organization or it may simply be embedded in the activities of the organization. A good Risk Management
program means that the company is able, first of all to identify, then to measure risks, to project, to

The Importance Of Risk Management
Excusive Summary
This paper briefly discusses the importance of risk management.
Then, the paper analyses the use of derivative instruments that American Airlines to manage its business
risks.
What is risk management? Risk management is a method to reduce the risk of operating company when the
company faces an open market, laws and regulations repeals' of prohibition and new product creation
because these three challenges will increase the changes in volatility(increasing the operating risk of
company)of the company. A good risk management will help company to reduce the probability of making
wrong strategy decision in order to diminish the probability of loss and this method will raise the relative
add value of enterprise consequentially.
Why manage risk? Why we should do the management risk? Obviously, the purpose of risk management is
that we want to identify potential risk, reduce or allocate risk, provide the best choice and make the plan of
strategy based on the reasonable basis by analyzing risk. By evaluating risk, you will enhance the chance of
gaining profit. Additionally, continuous risk management will help managers at all levels to make informed
decisions on issues in regards to all related risks. Risk management is not only good for the company, it is
also beneficial to the family and society.
For the company:
1. Risk management is beneficial to maintain the stability of the enterprise production and operation. An
efficient risk management will

Risks Management : Risk Management
Risk Management
All projects are subject to the effects of uncertainty. The uncertainty creates the need for organizations to be
aware of the many different types of risk they will be challenged with for the duration of the project. To
understand the level of risk the organization must have a defined process for project risk management to
include their risk appetite, risk tolerance and risk thresholds. Project Risk Management is the processes of
conducting risk management planning, identification, analysis, response planning, and controlling risk on a
project. (PMI, 2013, p. 555). The PMBOK Guide lists six processes of Project Risk Management as "Plan
Risk Management, Identify Risks, Perform Qualitative Risk Analysis, Perform Quantitative Risk Analysis,
Plan Risk Responses, and Control Risks" (PMI, 2013, p. 309). Risk management planning has been
identified as an important management approach to dealing with uncertainty in projects, aiming to minimize
threats and increase opportunities. Understanding each of these processes will give you a clear picture of
the importance that risk management plays within a project.
Plan Risk Management
Plan Risk Management starts at the earliest stage of the project and should be included in the overall project
management plan. Establishing this process should be accomplished during the project launch meeting
where risk management is supported from the onset by top management and understood by the entire
project team. (Meredith &

Risk Governance : Risk Management
This paper examines the risk governance can aim the boards to achieve expected risk oversight outcomes.
This paper introduces the risk oversight function that is the responsibility of the boards, and reviews the
origin and development of risk governance theory. Also, it discusses both risk governance frameworks and
ISO 3000' approach to the risk governance. At the end, there is an analysis of limitation of risk governance
as pragmatic guidance for directors, and recommend 1) reducing risk governance limitation; 2) a structured
approach aimed at continuous improvement
INTRODUCTION
Recently, more and more organizations pay attention on risk governance because of the effect of global
financial crisis and fast changing in globe. In addition, the numerous organizations' failure also increases
the weight of risk governance. Therefore, it is important to implement risk management accurately by the
boards. However, many boards lack knowledge and experience to implement effective risk management
that cannot achieve the primary board objective – risk oversight function. Based on International Risk
Governance Council's (IRGC) risk governance framework, risk governance is used as an analytic tool to
assess and manage risk, which is benefit to implement risk management in order to achieve the expected
risk oversight function.
RISK OVERSIGHT FUNCTION
"Risk oversight" describes the role of the board of directors in the risk management process in enterprise–
wide. In risk oversight

Risk Management
Heinz‐Peter Berg – RISK MANAGEMENT: PROCEDURES, METHODS AND EXPERIENCES
RT&A # 2(17) (Vol.1) 2010, June
RISK MANAGEMENT: PROCEDURES, METHODS AND EXPERIENCES
Heinz–Peter Berg Bundesamt für Strahlenschutz, Salzgitter, Germany e–mail: hberg@bfs.de
ABSTRACT
Risk management is an activity which integrates recognition of risk, risk assessment, developing strategies
to manage it, and mitigation of risk using managerial resources. Some traditional risk managements are
focused on risks stemming from physical or legal causes (e.g. natural disasters or fires, accidents, death).
Financial risk management, on the other hand, focuses on risks that can be managed using traded financial
instruments. Objective of risk management is ... Show more content on Helpwriting.net ...
1) This standard is intended to support existing industry or sector specific standards.
Figure 1. Approach of the planned generic standard on risk management.
As with the definition of risk, there are equally many accepted definitions of risk management in use. Some
describe risk management as the decision–making process, excluding the identification and assessment of
risk, whereas others describe risk management as the complete process, including risk identification,
assessment and decisions around risk issues.
80
Heinz‐Peter Berg – RISK MANAGEMENT: PROCEDURES, METHODS AND EXPERIENCES
RT&A # 2(17) (Vol.1) 2010, June
One well accepted description of risk management is the following: risk management is a systematic
approach to setting the best course of action under uncertainty by identifying, assessing, understanding,
acting on and communicating risk issues. In order to apply risk management effectively, it is vital that a risk
management culture be developed. The risk management culture supports the overall vision, mission and
objectives of an organization. Limits and boundaries are established and communicated concerning what
are acceptable risk practices and outcomes. Since risk management is directed at uncertainty related to
future events and outcomes, it is

Security Risks And Risk Management
EHEALTH SECURITY RISK MANAGEMENT
Abstract
Protecting the data related to health sector, business organizations, information technology, etc. is highly
essential as they are subject to various threats and hazards periodically. In order to provide security, the
information has to adapt to certain risk analysis and management techniques which has to be done
dynamically with the changes in environment. This paper briefly describes about analyzing the security
risks and risk management processes to be followed for electronic health records to ensure privacy and
security.
Overview of Security Risk Management:
The data present in the Electronic Health Records that are recorded, maintained or transmitted by the third
party devices and so, must be ... Show more content on Helpwriting.net ...
Further, privacy and security are like chronic diseases that require treatment, continuous monitoring and
evaluation, and periodic adjustment.
According to HIPAA, the required implementation specification for risk analysis requires a covered entity
to, "conduct an accurate and thorough assessment of the potential risks and vulnerabilities to the
confidentiality, integrity, and availability of electronic protected health information held by the covered
entity."
The process of risk analysis consists of 9 steps:
Step 1. System Characterization:
Initially system characterization is required to accelerate the process of risk analysis. Through this process,
the information that is needed to be protected is identified. Some of the examples of applications include
Electronic health records, Laboratory information system, and pharmacy system. The general support
systems consist of computers, laptops, smartphones, email, etc. which are used in the organization to
support various applications. The risk analysis should stress upon systems that have more effect on
healthcare operations
Step 2. Threat Identification:
The next step is to identify threats. Threats can be of anything from earthquakes and tornadoes to human
errors, carelessness, hacking, hardware failure, power outage, etc. Identifying all the threats is not necessary
but it is important to identify the regular

Management Plan For Risk Management
Risk Management
Risk management is the identification, assessment, and prioritization of risks followed by coordinated and
economical application of resources to minimize, monitor, and control the probability and impact of
unfortunate events or to maximize the realization of opportunities. Risk management's objective is to assure
uncertainty does not deflect the endeavor from the business goals. Risks can come from various sources:
e.g., uncertainty in financial markets, threats from project failures (at any phase in design, development,
production, or sustainment life–cycles), legal liabilities, credit risk, accidents, natural causes and disasters
as well as deliberate attack from an adversary, or events of uncertain or unpredictable root–cause. The risk
management plan should propose applicable and effective security controls for managing the risks. A good
risk management plan should contain a schedule for control implementation and responsible persons for
those actions.
It is important to assess and measure different types of risks that the company can face prior to stepping foot
in a different country. The three broad types of risk are: 1) Political Risk, 2) Economic Risk and 3) Cultural
Risk. Political, social, economic, cultural, and legal and government issues need to be taken care of before
launching any brand in any country.
1) Political Risk:
Political risk is a type of risk faced by investors, corporations, and governments. It is a risk that can be
understood

Healthcare Risk Management ( Hrm )
Healthcare risk management ( HRM) began in the late 1970s when hospitals are facing a malpractice crisis
(Kavaler & Alexander, 2014). According to Kavaler and Alexander (2014), it is estimated more than
140,000 Americans die from medical errors and the cost ranges between $17 billion and $29 billion each
year in the United States (Kavaler & Alexander, 2014). In this essay, the student will explain a healthcare
risk management program, evaluate the program for compliance with the American Society for Healthcare
Risk Management (ASHRM), and Examine the administrative process of management the risk program.
The HRM is described as a systematic attempt to recognize, evaluate, and decrease the risk for patients,
visitors, staff, and institutional assets. In another word, The HRM is a program created to reduce the
incidence of preventable events and injuries to decrease the financial loss to the organization institution
should cause an injury or accident occurs (Kavaler & Alexander, 2014). The ASHRM, which is organized
by the American Hospital Association, establishes four steps method to achieve the objective. The steps are
1. Risk identification. 2. Risk analysis. 3. Risk treatment which includes Risk control and Risk financing. 4.
Evaluation of risk treatment strategies (Effective Health Care Risk Management Programs. n.d.). According
to Kavaler and Alexander ( 2014), Risk identification involves the gathering of data about present and prior
patient care occurrences and

Risk Management Plan For A Risk Assessment
The goal of a risk assessment is to figure out all of the risks and vulnerabilities there are, or could possibly
be within a business. The goal of a risk management plan is to then figure out how to mitigate those risks
and vulnerabilities to lessen the impact on the business if ever one should arise. Creating a plan helps not
only to identify any risks, but also helps to choose the best solutions available to mitigate those risks. If a
risk management plan is not created and implemented, there is greater chance of failure.
The purpose of this risk assessment plan is to update the existing out–of–date risk management plan. The
scope of the plan will include:
List of threats and vulnerabilities
Security
Responsibilities assigned
... Show more content on Helpwriting.net ...
Snow and ice could freeze power lines and make driving conditions to and from work dangerous Transfer
the risk to Insurance, remote in from home, make sure data is always backed up in a safe place (off site),
and make sure to use power strips with for protection from power outages, backup generator H M M/H
Environmental
Utilities – Electricity

Risk Management : An Organization
Risk management is "an organized effort to identify, assess, and reduce, where appropriate, risks to patients,
visitors, staff, and organization assets" (Kavaler, F., and Alexander, R. S. 2014). Institutions need to do
ensure that their environment is safe. Risk management is one way to address actual and/or potential risks
identified in the organization. Risk management process focus on risk identification, risk assessment and
risk control/management (Kavaler, F., and Alexander, R. S. 2014). Each organization is unique and the
challenges faced by each may differ. In health care settings, the safety and security risks can be categorized
under patient safety, infection prevention, fire prevention, and disaster preparedness among others. The ...
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2015). As the statistic reveal, CAUTI is a major risk to the patient and requires that measures be put to
prevent the occurrence of infection.
Risk assessment involve patient assessment for risk of infection. The care provider seek for risk factors by
performing physical examination, running laboratory and radiologic investigation, review of patient data for
contributing factors such as compromised mobility, low immunity among others. Risk assessment; When a
risk factor is identified, the care provider follows the required step as guided by a protocol. One of the
action is to activate a team evaluation of the patient vital signs, laboratory results such as white cell count,
and patient assessment findings. The current protocol was generated after a root cause analysis team's
analysis, one of the common techniques in management of safety and security risk focusing on patient care
outcome and incorporated the centers for Disease Prevention and Control recommendation (CDC, 2016).
Risk control and treatment measures include implementing a CAUTI prevention bundles. This is a set of
procedures and activities geared to reducing or removing the risk of infection to include hand washing,
aseptic catheter insertion, and shift catheter care among others. For patient who are diagnosed with CAUTI,
appropriate antibiotic is administered ad test run to confirm

Elements Of A Risk Management Program
Elements of a risk management program
Introduction
Quality and safety of care are the biggest goals of every health care organization. A risk to the patient,
healthcare professional and the organization are prevalent in health care settings, which can be minimized
and prevented by having well trained and educated risk management team within the organization. Risk
management is the systematic effort to reduce an incidence of preventable accidents, which not only
prevents the injuries and financial loss but also ensures that quality of services and quality of health care are
in optimal level for all patients (Alexander& Kavaler, 2014). The purpose of the risk management program
is to investigate the potential risk factors before they threat to the patients, health care professionals and the
organization (Alexander& Kavaler, 2014). This paper will discuss about the elements of risk management
program. Also, a paper will explain regarding the steps of presenting a risk management program for new
employees, compliance with the American Society for Healthcare Risk Management (ASHRM) and the
recommendation to improve the risk management program. A Paper will also highlight the administrative
process of risk management.
Steps Of Presenting A Risk Management Program To New Employees
Hiring new employees is the continuous process in every health care facility and new employees are less
familiar with the organization's rules and policies. In order to optimize the quality and safety

Risks Of A Risk Management Process
Every day businesses face the challenge of being exposed to potential risks. Whether these risks are internal
to the company financially, damaged caused to the interior or exterior of the building itself, or lawsuits due
to liability losses, businesses have a responsibility to be prepared. There are numerous ways for businesses
to protect themselves from possible risks resulting from a loss. Risks may also vary depending on the type
of business and operations it conducts. Not all companies will be faced with the same challenges of
protection for losses, which is why it is important to consider a risk management process. Risk management
is the identification, assessment, and prioritization of risks, followed by coordinated and economical ...
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Insurance policies will not only help businesses financially, but also personally, being reliable to their
employees as well as keeping a strong customer base. A good example of a business that does this is Kohl's
Department Store. With a variety of different merchandise, low prices, and quality service, Kohl's delivers
to its customers with exceeding expectation. To see how Kohl's has successfully made it to the top, a brief
history of the company and achievements will provide a foundation for the types of policies needed in order
to maintain such success.
According to the Kohl's Fact Book, quarter ending in May 2010, the history and background of the
company has had major impact on why they are still successful today. Beginning in 1962, the first Kohl's
Department Store was opened in Brookfield, Wisconsin. The store was originally designed as a grocery
store, and soon expanded into retail. Since then, Kohl's has opened approximately 1,200 stores in the United
States. In the mid 1980's, Kohl's had been expanding tremendously being ranked 8th in Wisconsin's top 100
privately owned companies for their brand named merchandise and carrying high quality products at lower
prices than many other retail stores. In the mid 1980's to the beginning of 1990, Kohl's experienced sales
increases from $300 million to $1 billion, and has sense skyrocketed to over $10 billion In net sales (Fact
Book, 4). By 2001, the company builds Kohls.com where

The Definition Of Risk Management
1. What is the NCPI definition of risk management?
The definition of risk management which is given by the NCPI is the expectancy, identification, and
assessment of a possible risk where a process is started to help take away any possible risks that can be
associated with something or to help lower the amount of risk in which could be used to bring it down to a
place which is deemed to be at more of a tolerable level. What this is doing is showing us that as we place
certain control over risks any type of risk that is similar to these are then associated with each other. These
risks are more easily controlled due to having them all in more of an organized fashion leading to our
efforts to combat these risks to become more effective. This then helps these risks from becoming increased
or even having other risks as a result. The whole notion of risk management is by acting on these risks
before they become more serious we can prevent these actions from happening ultimately widening our
control over them.
2. What aspects of crime analysis should the crime prevention practitioner (CPP) consider when conducting
a risk assessment? What questions should the CCP ask of the location in an effort to understand the needs of
the customer and the location?
The aspects of crime analysis that the crime prevention practitioner should consider when conducting a risk
assessment is that the practitioner should make sure not to infringe on the customers special interests and
should not try

Risks Of Risk Management Programs
Risk Management
Risk management is defined as the orderly procedure of recognizing, assessing, analyzing and tending to
get rid of potential risks that exist within the organization. To make it more simple and understandable risk
management is the procedure to secure the advantages by maximizing modern techniques to minimize the
risk that might lead to the breach of information privacy and information security. Managing risk is a
proactive function of any organization. The concept of risk management has been initialized in hospitals
from 1977. In any well–developed risk management program though the target is to have a risk free
environment there must be a couple of processes exist those are Risk identification and Risk control.
As of the 1977, the risk management capacity was basically thought to contained Quality Assurance in
medical field and drifting in intense consideration medical facilities. The following mentioned phases are
very much essential for the risk management program.
MALPRACTICE CLAIMS
Australia is the country, which has the most imperative rate of remedial as seen by World Health
Organization. The malpractice cases against doctors and hospitals in Australia reached a crisis stage before
three decades. The price of protection in the business market turned out to be high to the point out that
numerous medical facilities which were set up on its own by certain individuals (doctors). The challenges
being faced by hospitals in Australia due to general

Risk Assessment And Risk Management
Risk Assessment and Risk Management.
SS4018
To protect the confidentiality of the service users I worked with who are mentioned in this assignment, all
service users' names and any identifying features have been anonymoused. Confidentiality is key for the
Social work profession to ensure sensitive information remains undisclosed (Doel, 2012).
The aim of risk assessment is to consider problems or situations where it is likely or unlikely that harm may
occur (Adams et al, 2009). Risk is a generic concept based on the assumption that the likelihood of loss,
harm or other negative happenings can be estimated or even quantified. When applied to social work, "the
complexities of the factors correlated with peoples vulnerabilities and ... Show more content on
Helpwriting.net ...
Child protection concerns play a large part in Social Work practice, which is underpinned by law, policy,
organisational procedures and public enquiries regarding how the Government try to prevent abuse from
going unseen (Hothersall 2010).
Risk when thinking about Social Work practice looks at two main areas:
The risk a person poses to themselves and to others
Risk that a person may be subject to, looking at their vulnerability (Maclean & Harrison 2011)
Whilst on placement with the Aberdeenshire Council Children and Families Team I adhered to the lone
working policy to ensure my safety when out of the office working with clients. To minimise risks, in line
with this policy I have my mobile phone with me at all times and ensure I write my day to day diary on the
office board with names, times and addresses of where I will be going, and notify staff of my where–a–
bouts (Aberdeenshire Council 2014).
During my time on placement I managed a case with a 15 year old male who's dangerous and risk taking
behaviour was spiralling out of control. Ryan was truanting school, resulting in his attendance being less
than 20%, associating with a negative peer group and getting involved in physical fights. Ryan's anti–social
and criminalised behaviour has resulting in him being returned home by the police on several occasions.

Applying Risk Management
Applying Risk Management CMGT/430 Applying Risk Management Risk management is an important
element in managing information systems. Applying risk management principals to business procedures is
essential because it helps organizations design and maintain a safe systems environment to ensure the
confidentiality, integrity, and availability of company data. Kudler Fine Foods has expressed an interest in
developing an Enterprise Resource Planning (ERP) system. The primary objective is to improve business
administration by integrating stores and business systems. Kudler Fine Foods has three stores in California
and integrating business ... Show more content on Helpwriting.net ...
Because technology is consistently growing and changing, preventative measures must include flexibility to
allow for change and growth. Without these considerations, a business could jeopardize themselves by
restricting the ability to expand or even update the systems with necessary security patches. Preventative
measures should include future growth. As technology grows, risks increase. Protection mechanisms will
change as new threats are introduced to business as well as new legislations. Many security standards are
based on data protection regulations and as laws change or new laws are introduced, information
technology is the most costly element in ensuring compliance. There could be costly ramifications with
poor planning. Risk avoidance can be costly and inconvenient but it would be more costly and inconvenient
when a security issue occurs. A risk assessment would be the first step to take when determining whether to
chance a certain risk or not. Determining what the assets are and understanding the impact on the business
if a security incident occurs is important. It is also important for businesses to understand regulations and
what is necessary to comply with certain laws and requirements. Kudler Fine Foods must conduct

Risk Management Plan
RISK MANAGEMENT PLAN
FOR
Australian Open 2009
ESTABLISHING CONTEXT
The Australian Open tennis began in 1905, when The Australasian Tennis Championships were first staged
at the Warehouseman 's Cricket Ground in St Kilda Rd, Melbourne. Until tennis ' "Open" era began in 1968,
the Australian Championships were held in many different states, and at many different venues around
Australia. With the ushering in of Open tennis, the name was changed to the Australian Open, and by 1972,
the National Tennis Body decided to give the Australian Open a permanent home and that was Melbourne.
More than 500 tennis players from different nations will compete during this event. Along with the players,
an estimated 1000 team officials, 2000 ... Show more content on Helpwriting.net ...
And, lastly Risk Management Steering Committee will be established by Australian Open Tennis and is
responsible for –
– Co–ordinating the regular formal updating of Business Unit and corporate Risk Registers and Risk
Treatment Action Plans and compiling a master set;
– Maintaining corporate risk and risk control information;
– Ensuring that all relevant risk areas are considered including those emanating from the services of
external providers and contractors;
– Analysis and reporting to the Organisation's Executive;
– Ensuring appropriate linkages to the Organisation's business and corporate planning processes, and where
necessary, to budget processes. .
Regardless of the level of risks, we need to identify our stakeholders both internal and external and kind of
risk that might occur. Following is the description of stakeholders and different type of risks.
| Stakeholders | Type of Risk |
|Patrons |Personal Security, Health & Safety |
|Employees includes Volunteers |Health & Safety |

Risk Analysis Of Risk Analysis And Management
1.
Risk analysis and management
One of the key segments of applying administrative safeguards to ensure or protect the association 's health
care records or data is known as risk analysis. It is difficult to set up a successful risk management program
if the association doesn 't know about the dangers or risks that exist. Risk analysis is generally new to
medical field. Couple of associations/ organization implemented formal security hazard/risk assessment
before the HIPAA rules publication. This is not enough to prevent the risks in health care. So, health care
has to adapt risk assessment processes similarly like other industries
Eight steps for risk analysis process
Eight steps for risk analysis process explained by Steve Weil (2004)
1. Boundary definition– The organization or association should build up a detailed inventory of all health
care data and data frameworks. This audit can be directed utilizing interviews, examinations, surveys, or
different means. The essential thing in this step is to recognize all the patient–particular medical record
data, Medical information systems (both inner and outer), and clients of the data and health care
information system.
2. Threat identification– Distinguishing risk will bring about a list of every single potential risk to the
association 's medicinal services information systems. The three general sorts of risk are–
a. Natural, for example, surges and flames
b. Human, this can be deliberate or accidental
c. Environmental, for

Disadvantages Of Risk Management
Risk management can be defined as the process of discovering, identifying, and assessing the risks facing
an organization's operations, as well as determining how said risks can be either controlled or mitigated
(Whitman & Mattord, 2013). Moreover, a significant component of risk management is risk analysis, which
is the identification and assessment of the various levels of risk in the organization. Due to this fact, risk
management must remain an ongoing process, and the safeguards and controls that are devised and
implemented cannot be viewed as "install and forget" devices. Additionally, this comprehensive process
requires an organization to frame risk, assess risk, respond to risk once determined, and most importantly,
monitor risk on an ongoing basis through the use of active organizational communications and continuous
improvement feedback loops. Furthermore, the fact that most businesses identify and implement new
information technology systems in response to changes in the market on a regular basis justifies the need
for an ongoing risk management process.
It is no longer enough to view risk management as a way to install tools and perform tasks in order to plug
the holes in the organization's systems (Schmerler, 2016). Effective risk management requires follow up and
evaluation of the effectiveness of the risk management strategy on an ongoing basis. Additionally, an
organization will need to ensure that the authorized users are using the technology in the way

Risk Management and Evidence
Portfolio 2
In this essay I will be discussing how the evidence from my portfolio demonstrates that I have achieved one
specific proficiency. 'A professional portfolio is a collection of carefully selected materials that document
the nurse 's competencies and illustrate the expertise of the nurse.' (Oerman, 2002). The proficiencies are
based on the NMC 2013 code of practice. I will be exploring how the proficiencies principles were attained
and how my evidence connotes the achievement– the evidence I have provided is from my placement in
semester 5, it was based within a drug community treatment team. I will also concur what else I could have
done to improve my portfolio evidence, then develop an action plan for future placements.
The ... Show more content on Helpwriting.net ...
My third piece of evidence [appendix III] is a work product and a description. this work product covers
proficiency 3.1.5 as it discusses the risks that the client may endure due to their current health, behaviour
and lifestyle choices. it also formulates an action plan if any factors that would escalate the risk may occur;
allowing us as health care professionals to protect the client to manage risk (NMC, 2013). As this is a work
product it conveys that I have the skills to carry out a risk assessment on clients in a correct way; thus
evidencing I have key skills and knowledge to manage risk.
The limitations of achieving this proficiency are that when working with clients who are substance
misusers, they are constantly taking risks because of this lifestyle. This can be hard to manage at times as a
health care professional as we can not control a client's choices. this is why it is important to thoroughly
manage positive risk taking. I feel that I have done this throughout my evidence, however on reflection I
could have discussed my skills and knowledge further, so that it is more clear that I understand the
principles of risk management. I also feel that I could have given more variation of evidence for example
included further work products to support my reflective accounts.
The strengths I feel my evidence shows to achieving

Strengths And Methods Of Risk Analysis And Risk Management

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