Summative assessment2
Project
This project will enable you to produce and products suitable for use in the work
place. Design, develop and document a risk management plan related to:
The reduction of accidents, illness or incidents relating to worker or general
public safety
The prevention of operational discontinuity
The need for new or innovative improvement/ changes in processes or
procedures (and associated risks)
Environmental impact issues – including resource use and management
You might choose another risk area relevant to the organisation for which you
work. If you do will need to describe the organisation and the risk being
addressed in terms of industry sector requirements.
Give clear and succinct reasons for initiating and implementing the risk
management plan. You will need do:
Establish the context of the risk
Identify the risk/s
Analyse the risks
Select and plan risk management treatments Describe the processes followed to address all of the settings:
Any current risk management policies, procedures and processes and their
strengths and weaknesses
The risk management scope
The impact that each of the following has on the organisation’s approach to risk
management:
– Political environment
– Economic climate
– Social factors
– Legal factors
– Technological advancements
– Policy context Tools and techniques that can be used to identify, measure (quantify) and
analyse (asses) risks
Critical success factors, goals or objectives
Relevant legislation, regulations or codes of practice
Internal and external stakeholder groups and their issues
Communication with each stakeholder groups Support that will be needed in order for the risk management plan to be
effective
Procedures for prioritising risk treatments
Address all of the following questions:
1. What is the situation?
2. What are the risks associated with the situation?
3. How were the risks identified and assessed?
4. What controls currently exist?
5. What is the desired situation?
6. What are the risks associated with the desired situation?
7. How have they been identified and assessed?
8. How does the risk management plan act to reduce the impact or
consequences of the risk/s?
9. Does it introduce any new risks?
10. Who will the plan benefit and how will it be of benefit?
11. Why should the organisation support it? (consider qualitative and
quantitative benefits, costs, PR, safety etc)
12. What resources and what personnel would be involved in developing,
implementing and monitoring the planned risk controls?
13. What are the cost factors involved?
14. How would you ensure that the risk treatment was sponsored and
supported by the organisation?
15. Whose authorisation would you need in order to go ahead with your
plan?
16. How would you determine performance expectations?
17. How will you monitor the operation of the plan?
18. Who would be responsible for monitoring the risk controls and why
would this person (people) be most suited to the task?
19. How will you measure its success? (ie what measurement processes will
you use and what will you measure its successes against?)
Format your risk identification, analysis and improvement plan/proposal
(or action plan) in a manner that would be accepted by senior
management. Ensure that all risk scenarios are addressed and catered
for. Submit:
The plan
Answers to the questions
The plan rationale
Tools used in the assessment process and in the plan design process
Any relevant support information, charts, graphs etc
The plan must clearly describe the risk, proposed actions, resource
needs, responsible persons, time, frames, deadlines, expected
outcomes, and success metrics. Plan should be accompanied by relevant statistics, evidence of the
analysis of data/ information, graphs, charts and tables and any relevant
background information. ( Minimum 2,000 words)
