Project on Probabilistic Risk Assessment

Added on -2020-02-14

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AGENCY PRACTICE Task 3
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1REFERENCES................................................................................................................................5
INTRODUCTIONRisk is uncertain in the nature. Risk management process help to identify and properlyassess the risk in the effective manner. That will help to take better decision and resolveproblems. It may be negatively and positively impacting on business so that's why shouldproperly analysis and monitor on the time. Management procedure help to remove uncertaintyand achieve decided goals and objectives of the company. This will be occur from varioussources such as financial risk, threat of reject project, market trend, economy of the country,public investments, equity fund and debt fund so more. STOCKLAND is the real estate companyin Australia. Its has different business elements like shopping centre, housing property, industrialestate etc (Archer and Syratt, 2012). MAIN BODYResearch is the process in which identify and find out something new or innovative thingthat help to develop business in the effective manner. In all the sectors and areas having risk thatis uncertain in the nature. Its not fix that's why it will be occur at anytime and in any situation.To manage and control over the risk so working according to the risk management process. Bywhich its help to properly monitor and evaluate the risk and their reasons. Its providing bettersolution to take effective decision. In the real estate sector having various kind of risk that maybe positively and negatively impacting on business process and working performance of thecompany. To manage risk of the business so there is prepare an effective risk management planand use risk assessment method (Pickering, 2010). This method and plan help to clearlydetermine risk factors and their solution systematically.To manage the risk in the systematic manner so there is including various stages in riskmanagement process those are under the below: Identify the Risk: In this stage define and determine the risk also their factors. That mightbe affect on research project. Its help to find out suitable techniques and methods thosehelp to resolve problems and provide better solution (Ritchie and et.al, 2013).Analysing:After identify the risk should properly analyse them. In which shoulddetermine the nature of risk and understand that in the effective manner. It will bepossible affect on business process and their working performance1

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