Business Practices: DPTI Project Risk Assessment Report

This report analyzes an interview conducted with a manager at DPTI regarding risk assessment practices. The report details how DPTI identifies and manages risks in its projects, including the use of a risk pro-forma and quarterly assessments. It highlights the importance of stakeholder involvement, the distinction between low and high risks, and the role of contingency planning. The report also discusses the company's approach to cyber security, the significance of employee training, and the adherence to ISO31000 standards for risk management. It emphasizes the impact of the manager's experience in the hospitality sector, effective data collection methods, and the challenges related to client awareness and time constraints. The report concludes by mentioning the integrated risk management approach and continuous learning programs within the organization.

Business practices: Result

Table of Contents
Report...............................................................................................................................................3
A)Summary of the Interview Transcript: ...................................................................................3
REFERENCES................................................................................................................................5

Report
A)Summary of the Interview Transcript:
From the interview conducted by Jaxon for a Manager John on risk assessment. John is a project
manager at DPTI. It has been known that risk is somewhere present in every project of the
company and is managed by the group of people and shareholders which are involved in the
work. Risk can be identified in the workplace with the help of stakeholders who has involvement
in the design group and then the risk group identifies the risk (Vinnem, 2014). There are two
type of risk involved namely low risk and high risk and it is very important to remove this risk
from the work. Risk are assessed in every month or two. In DPTI risk assessment is done on the
quarterly basis and the tool used here is risk pro-forma which is used by every one in this
department. As some of the risk are unexpected so the company runs in contingency.
As such the company has no appropriate risk management system but with the help of
this process risk is reported throughout the different level of governance. The high risk got
intensified from a design team and the risk which cannot be treated is escalated to an executive
leadership team. The technology advancement brings risk in the organisation and builds as an
advantage for the hackers. As such type of risk are unknown and unexpected, so high amount of
investment is required toward the preparation of risk as prevention is always better than the cure.
As John was already having a experience in the previous job this helped him to provide a
pragmatic approach (Suter II, 2016). There is effective relationship build in the organisation
which helps helps the employees to discuss about the issue with their manager without
hesitation. As such no hierarchy barrier is used in an organisation as it believed that the people
who hide risk because of the fear that it will affect the risk is one of the risk in itself. As John is a
manager in the organisation, he is having the quality of self management that helps him to
reschedule the work properly. In order to conduct a risk assessment company develops a risk
program, risk register and a risk matrix. Though there are some of the time where risk cannot be
assessed as because of the delay in applying the proper treatment. Sometimes the risk are known
before starting the project but this are ignored as considered as quite expensive and disruptive
because the risk is not clear. The risk are also ignored when there is lack of time and funds. John
previous experience of hospitality sector that has helped him a lot in his present job as by this he
is able to cope up with the different situations. Some of the issues were faced at the workplace

where client was not aware of the work and in that case company also involved them with the
work. By analysing the need of them in a proper way task can be effectively achieved.
Sometimes client didn't have the prior information this is so because they are not dealing with
the similar project and also didn't have sufficient experience about it. The effective methods that
could be used to collect the risk related data is workshop. They didn't require lots of meeting as
company is already having number of stakeholders and open forum.
The standard and procedure adhere in regarding the risk management is ISO31000. Cyber
security falls under the technical issue it is not the risk of business. Cyber security risk is
concerned with IT department and they usually occur when there is no proper infrastructure. .
Risk management technique is used by every company as it helps in growth of the business and
also helps in diversifying the operations. The department which looks after its own risk is known
as integrated risk management (Farsalinos and Polosa, 2014). As staff rotate throughout its
working in an organisation and all have different educational knowledge and have different
mindset to cope up with the risk. In that case risk cannot be personnel and this type of issue is
normally faced by the one who are new to the organisation. In that case a proper training should
be provided to them so that they are able to understand how the business operates and also
enable them to grow up their speed. In DPTI, there is a huge long e- leaning process which
provides training not fr the professional development but for the continuous learning.

REFERENCES
Books and Journals
Farsalinos, K.E . and Polosa, R., 2014. Safety evaluation and risk assessment of electronic
cigarettes as tobacco cigarette substitutes: a systematic review. Therapeutic advances in drug
safety. 5(2). pp.67-86.
Suter II, G. W., 2016. Ecological risk assessment. CRC press.
Vinnem, J. E., 2014. Offshore Risk Assessment, Vol 2.: Principles, Modelling and Applications
of QRA Studies. Springer.