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Risk management Essay Topics & Paper Examples

Applying Risk Management Strategies

In this PE assessment, we learned to apply risk management strategies to outdoor activities associated with the water/beach such as snorkelling and swimming. Our class practiced snorkelling skills (ie. Clearing snorkels, equalising, dolphin kicking) in the school pool and at Picnic Bay/Mangawhai which was preparation for snorkelling at Goat Island marine reserve. We analysed the possible risks and hazards that could occur during these activities and the factors that may cause them. As a class, we had to come up with strategies to prevent these risks and hazards to insure everybody’s safety. (Strategy 1) In any activity relating to water, the biggest issue would be someone drowning or getting lost out to sea due to strong currents which may lead…

Support Children and Young People’s Health and Safety

All schools in the UK have a health and safety policy, in which they have to adhere to requirements. There are many current health and safety legislations, policies and procedures. These include the Health and Safety at Work Act 1974 which was created to protect those at work by following procedures in order to prevent accidents. In a school setting, it is compulsory to follow the rules of this act. Schools must have an annual risk assessment so that they can determine areas of the school which could be dangerous; the same applies for activities in the school. They also determine the possibility of specific hazards happening and who in particularly would be at risk. Every member of staff in…

Risk Assessment and Risk Management

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 identify hazards in the workplace and will give them a danger rating. The danger…

Identify three (3) risks of the bid strategy

After identifying the customer key evaluation requirements I have identified three risks that may affect our bidding strategy. First, I want to identify why it’s important to know your risks when creating a bid strategy to help you understand why I choose these top three risks. Risk management is the process of identifying risk issues and the options for controlling them, commissioning a risk assessment, reviewing the results and selecting amongst the assessed options to best meet the goals. The purpose of risk analysis is to help managers better understand the risks (and opportunities) they face and to evaluate the options available for their control. (Vose software, 2007) The top risk of the bid strategy for this company would be…

The gaijin who saved Nissan

In this module 5 case study, I will read “The gaijin who saved Nissan”. I will discuss what Carlos Ghosn and Nissan did in order to manage global financial risk and why they did it. I will also discuss which of Napolo’s 8 steps Nissan followed and which they did not. Napolo’s 8 steps Dave Napolo was the Senior Vice President of Foreign Exchange as Wells Fargo. He developed an eight step process to mitigate the risks associated with foreign exchange. Step one was to define the corporate philosophy and objectives. Step two was to identify exposures while step three quantified exposures. Step four defined risk management policies and procedures and step five identified strategies to manage risk. Step six…

Regulatory Risks

Risks are inherent to all business organizations. Risk management often considers several areas of practice and is an absolute necessity, not merely an option. The author will discuss regulatory risks for organizations, and explain how they can be identified and managed. Risk management requires considering and weighing risks and implementing procedures to monitor and moderate them. Risk Identification Overview Legislative and executive branches of the United States government have enacted laws that regulate all businesses. Thousands of administrative agencies are authorized by Congress to administer and enforce statutes by regulating businesses. Administrative agencies are typically given executive power to investigate and prosecute potential infringement of statutes, administrative rules, and administrative orders (Cheeseman, 2010). Intentional Torts, Negligence, and Liability While no organization’s…

Orange County

After California passed a proposition limiting revenue generated from local property taxes, pressure was put on local governments to raise enough money to fund services. Orange County, like many others in the US, attempted to raise revenue without increasing taxes. Their treasurer, Robert L. Citron, decided to get involved with a high risk high reward product. He chose to invest in derivatives and gamble with public money. Because interest rates were low at the time, Citrons portfolio was returning at an average rate of 8. 52%. This was 5% higher than what the state of California was earning. Orange County was enjoying the benefits of their treasure’s investments. In 1994, 35% of the county’s revenue was from the portfolios returns….

Risk Management Plan

1.1 Purpose Of The Risk Management Plan The purpose of this risk management plan is to identify the threats and vulnerabilities that could impact the network. These threats can have a serious impact on the business operations and do financial harm. Once these threats and vulnerabilities have been identified, a plan of action must be made to reduce the impact they have on the network. 1. RISK MANAGEMENT PROCEDURE 1.2 Process The project manager working with the project team will identify all threats and vulnerabilities. A risk analysis will be performed to determine the cost, impact, and likelihood of each threat. Mitigation techniques will be used to reduce the impact of each threat. The risk management plan will continue to…

Contingency Planning for a Healthcare Provider

In this paper can be found a generic contingency plan for the health care industry, this paper shows how quickly things can change for health care providers, and what steps that need to be taken in case of a down ward spiral for the provider. This paper explains the seven steps of a contingency plan in detail to achieve maximum effectiveness. In this case, the contingency plan is for a surgical center. Contingency Planning for the Health Care Provider Background In this paper can be found a generic contingency plan for the health care industry, this paper shows how quickly things can change for health care providers, and what steps that need to be taken in case of a down…

A Duty of Care

1.1 Explain what is meant to have a duty of care in own work role Duty of care is a requirement to exercise a reasonable degree of attention and caution to avoid negligence which would lead to harm to others. Staff to be vigilance and attention keeps individuals safe as they develop: A duty of care is a legal obligation imposed on an individual requiring that they adhere to a standard and reasonable care while performing any acts that could foreseeable harm others. By including, daily cleaning rotas for staff to stop spread of germs and infections. To have first aid trained staff and to include body maps for when individuals go home and come back from home if they…

Disaster Recovery Planning in Banking Sector

On September 11, 2001, the terrorist attack destroyed the World Trade Center in New York, which was the most highly concentrated financial area. This attack not only destroyed the twin towers, but also ruined the financial system. Banks located in the World Trade Center went through an unprecedented disaster. The company’s back-up facilities which were too close to the primary facilities were disrupted as the primary facilities. Single points of failure in perceived diverse routing resulted in failed back-up communications systems. Because of the terrorist attacks of 9/11, there is significant increased focus on the disaster recovery plan. (Robert Bronner, 1997) According to Robert Bronner, banks were among the earliest adopters of information technology in the business world. The widely…