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Risk Management

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Written Assessment Action Plan for implementing Risk Treatment Prepare a risk management plan for a business of your choice in accordance with the Australian and New Zealand Risk Management Standard (AS/NZS ISO 31000:2009 Risk Management ?

Principles and Guidelines

1. Details of your business ? type of business, size and number of employees. (3 mks)

2. Identify all internal stakeholders. What might their concerns be in regards to risk management? (5 mks)

3. Identify all external stakeholders. What might their concerns be in regards to risk managements? (5 mks)

4. Review your organization?s risks in the context of:a. Political b. Economicc. Sociald. Technologicale. Legalf. Enviromental (3 mks each)

5. What are the strengths and weaknesses of the businesses existing risk management practices? (4 mks)

6. Outline the following in regards to your risk management plan:a. Success factorsb. Goals and objectives (2 mks each)

7. What tools will or techniques will your business utilize to research risks? (3 mks)

8. Using the risk assessment matrix analyze the following:a. The likelihood of the risk occurring ( 1 mk)b. The impact or consequence if the risk occurs (2 mks)

9. Evaluate and priorities the risks for treatment. ( 3 mks)

10. Select two risks and determine the most appropriate options for treating these risks. (8 mks)

11. Develop an action plan for dealing with one of these risks. Include:

a. What actions are required using the hierarchy of control (2 mks)

b. Who is taking responsibility ( 1 mk)c. Time lines (2 mks)d. Monitoring processes (2 mks)e. Communication to relevant parties (1 mk)

12. Outline the documentation required for your risk management plan. (2 mks)13. Outline how you will implement and monitor your plan. (5 mks) that’s my question

Answer this 1 by 1 and have 3 strong references. the questions are answerable using short answers except for the question number 10 that may consume a hundred words.

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