Project Risk Management

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
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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 ... Show more
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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

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 |

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 projectrisk
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 &

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

Risk Management
HeinzвЂђPeter 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 fГјr 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
HeinzвЂђPeter 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

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.

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

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

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
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Snow and ice could freeze power lines and make driving conditions to and from work dangerousTransfer 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
generatorHMM/H Environmental
Utilities – Electricity

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

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

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 healthcarerisk 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

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 goodrisk 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

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 Helpwriting.net ...
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 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

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 banksвЂџ 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 banksвЂџ 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 banksвЂџ foreign currency exposures significantly increase their financial distress likelihood
through dollar carry

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

RISK MANAGEMENT
Risk Management Plan for the Charming Cafe
reference: Version 1.0: date: 7/28/2014
VERSION HISTORY
Version #
Implemented
By
Revision
Date
Approved
By
Approval
Date
Reason
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 Helpwriting.net ...
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
CafГ© 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
2.1Process
The project manager working with the project team and project sponsors will ensure that risks are actively

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 MANAGEMENT3
BENEFITS OF RISK MANAGEMENT3
DEFINATION OF RISK4
DEFINATION OF RISK MANAGEMENT4
LIST OF STEPS OF THE RISK MANAGEMENT PROCESS4
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

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

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.

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 certainrisk 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

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

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

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 Riskis 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

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 takesrisk 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

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

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

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

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
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 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

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 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

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.

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

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 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 goodrisk 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

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