Enterprise Risk Management Strategies

This assignment delves into the importance of implementing effective Enterprise Risk Management (ERM) strategies in a workplace setting, particularly in a healthcare college. It emphasizes the need for physical, human, and financial resources to execute ERM plans. The assignment draws upon various references, including books, journals, and online sources, highlighting the significance of risk management in healthcare. A detailed summary of the assignment is provided, along with relevant keywords.

Ensure A Safe Workplace: Assessment 1
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Table of Contents
Part A..........................................................................................................................................3
Part B...........................................................................................................................................4
Part C...........................................................................................................................................6
Part D..........................................................................................................................................8
REFERENCES..........................................................................................................................10
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Part A
1. What are three WHS issues that may apply to ABC College and why?
As per the given case scenario, the major reason for set out health and safety policy in the
ABC collage is to continuous improvement of the health and safety of employees as well
as students. The main objective of this health and safety policy is to promote the health,
safety and welfare of all collage staff, students, visitors and contractors. The work health
and safety policy plays a very significant role in the ABC college through which all
students, workers, visitors and employees can carry out their activities in safe and secure
working environment (Hillson, 2014). In the ABC college, major issues of implementation
of work health and safety policy is planning identification of hazards, hazard and risk
assessment and controlling the hazard. These three main aspects that should consider by
ABC college for implement the work heath and safety policy and procedure.
2. Identify three WHS policies in ABC College and decide the most appropriate way to
communicate these policies to relevant stakeholders.
The ABC collage taken the approach to the identification, assessment and control the
health and safety hazard and its associated risk that has been defined in the WHS risk
management procedure (Hartley, 2012). The policy of work health and safety is facilities
compliances with the provision of work health and safety act 2011 and health and safety
regulation 2011. As per the policy of work health and safety act 2011 ABC will make
sure that there is a safe ad secure working environment within college so as no one can get
harm. Employees must cooperate with any reasonable policy or procedure of the person
conducting the business regarding health and safety at workplace.The workplace health
and safety policy included in the face to face induction for new personnels. With help of
face to face induction with employees, Management of ABC can easily communicate
policies to employees. In addition to this, employees, government, suppliers, customer can
easily go to the ABC online policy library. ABC collage have decided to use allocated and
physical resources for implementation of the workplace health and safety management
system. By use of the workplace Health and Safety website, Online contractor health and
safety induction program, Course unit handbooks, Student information publications,
Safety manuals and Safe Work Procedures, Safety signage etc ABC college can easily
communicate to stakeholder about the WHS policies and procedure. These all sources of
communication is very effective for promote and inform about the policies and procedure
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of work health and safety policy in the ABC college.
3. Identify duty holders and define WHS responsibilities for all workplace personnel in
ABC College according to WHS legislation, policies, procedures and programs.
In order to implement the policies and procedure of the work health and safety in the ABC
college, all personnels are equally responsible. General manager, senior manager,
employees and contractors have equal responsibility to follow and implement the policy of
work health and safety. In this aspect, the work health and safety policy defines
documents and communicates the responsibilities and accountabilities to general
manager,, senior manager, employees and contractors (Hampton, 2014). To established
WHSMS requirements at workplace is another one of the major responsibility and
authority of manager. In addition to this manager is also responsible for implement and
maintain policies and practices in accordance with AS/NZS 4801:2001 occupational
health and safety management system. They have also duty to reporting the performance
of the WHSMS to senior manager for review and evaluation.
4. Outline the process you would follow to identify and approve financial and human
resources for WHS activities within your work area. Show that you have considered
applying mathematical and problems solving strategies in identifying financial and human
resources required.
In order to implement the workplace health and safety in the organisation, organisation firstly
focused on the planning. In the planning stage, overall approaches of the taken by ABC
College to the identification, assessment and control of health and safety hazards. In the
planning stage, organisation focuses on the various aspects related to resources, legal
requirement, objective,WHS management and plans. The planning is very significant stage
under which all necessary requirement regarding the policy implementation needed to
consider. Once the planning stage is effectively accomplished then in the next stage
organisation focuses on the implementation (Hampton, 2009). In the implementation stage,
ABC college focuses on the resources, responsibility, accountability, training and
competency, consultation, communication, reporting, documentation, document and data
control, managing operation risk. The next stage is measurement and evaluation in this stage
company focuses on the monitoring and measurement. In the monitoring stage, company
focuses on the several techniques and tools for evaluate the performance of the business. Once
the policy of workplace health and safety is implemented then it is great responsibility to
monitor the performance and its effectiveness. As per the case scenario, ABC college has
identified and allocated financial and physical resources to enable the effective
implementation of the workplace health and safety management system.
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Part B
1. List participation arrangements you can think of that the company could use to
increase the involvement of staff, trainers and students.
Training and development is one of the effective way that ABC can follow to increase the
involvement of staff, trainer and students in the work place health and safety arrangements
(Fraser and Simkins, 2010). With help of training, management can provide training and
experience to employees and other for carry out safe and secure performance at
workplace. With help of training they can learn criteria to operate their activities in secure
and safe manner. Another method is consultation between management of ABC and
employees through which they can collectively manage the healthy and safety at
workplace. By this method, college and employees can collectively take the decision
regarding implementation of health and safety policies and practices. It is very significant
of involvement of employees in decision making for ensure a safe workplace (Duckert,
2010). This method also provides opportunity to employees for express their views and
opinion regarding health and safety at workplace. Another method is reporting and
systematic documentation for increase involvement of staff, trainers and students in the
health and safety at workplace. By use of several measures and reports on regular basis
such as workplace health and safety inspection, health and safety audits of the WHSMS
and incident, accident and hazard reports, ABC can increase the involvement of staff in
health and safety at workplace.
2. Provide one suggestion the company could use to resolve WHS issues through
participation arrangements and consultation.
ABC college management should conduct team meeting and consultation session with
staff member, employees and other so as they can effectively discuss about work health
and safety issues and problems (Connelly, 2014). By help of this method, employees and
other staff can easily share their views, suggestion and opinion regarding health and safety
policies, practices and procedure issues. Effective participation of employees staff,
students, contractors and visitors helps in resolving issue of WHS.
3. Identify ways that ABC could provide information about the outcomes of participation
and consultation to staff, trainers and students. You will need to find the way that it is
easy for them to access and understand.
ABC college can use several mediums for provide information about outcomes of
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participation and consultation to staff ,trainer and students that are as follows-
 Course unit handbook,
 Website of workplace health and safety
 Students information publications
 Saftey Signage
 Health and safety assessment reports to heads of work units
 Health and safety audits of the WHSMS
Another method is documentation that is available on the website of ABC college. With
help of this documentation, employees and students at the workplace can information
regarding new policies, procedure, new legislation, changes in procedure etc.
Part C
1. Develop a new procedure for ongoing hazard identification, assessment and control of
associated risks. You will need to suggest procedures where any proposed changes will
not create new hazards and the existing hazards are controlled. Consider the following
points:
 Compliance with WHS legislative requirements
 Ability to identify all possible hazards
 Accuracy in assessing risks
 Application to the hierarchy of risk control
 User-friendly nature of the risk assessment tools
In order to identify hazards and manage the operational risk, College ABC will follow
following procedures which are discussed below-
 Creating a systematic process- In this stage design project objective and success
factors.
 Gathering information from various sources- ABC college collects he high and
reliable information regarding risk management (Chitakornkijsil, 2010).
 Applying risk identification tools and techniques-In this aspect, ABC college
needed to select specific technique for risk identification. It is very necessary for
select users friendly nature of risk assessment tools
 Documenting the risk- In this stage, college identify the risk register document
and design effective risk breakdown structure along with its causes and
consequences (Berkowitz, 2001).
 Documenting the risk identification process- In this stage, management uses
various approach, participants and scope of the process (The Purpose of Risk
Management in Healthcare. 2017).
 Assessing the process effectiveness-In this phase, manager must have the ability
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to identify all possible hazards and compliance with WHS legislative
requirements.
2. Explain strategies to ensure that new hazards are not created by the proposed changes
and existing hazards are controlled.
Following are various strategies to ensure that new hazards are not created by proposed
changes and existing hazards are controlled-
 Estimation- In this strategy, management eliminate the physical hazard
themselves.
 Substitution- Management of ABC college can replace the hazard with other.
 Engineering controls- In this isolate people from the hazard.
 Work practice and administrative control- Change the way people work
 Personal protective equipments- Keep protect and secure the workers with
personal protective equipements.
3. Explain how you can maintain procedures for selecting and implementing risk
controls according to the hierarchy of control and WHS legislative requirements.
Identify control options- In this stage management collect, organise and review
information with workers to determine what types if hazards may be present.
Select controls- In this stage, management of ABC college select one option for risk
control. In this aspect, there are various options of identify hazards such as safety audits,
workplace inspection, incident, accidents and hazard reports, consultation, health and
environmental monitoring etc (Banks, 2013). In addition to this, management can also use
another options like physical remove the hazard, replace the hazard, engineering control,
administration control and protect the workers with personal protective equipment.
Develop and update a hazard control plan- In this stage, management focuses on the
several aspects such as establish a target completion date, assign the responsibility for
installing or implementing the control and planning for track progress toward completion
(Bainbridge, 2009).
Implement selected control in the workplace-In this stage, management finally implement
the selected option of controlling hazard.
Follow up to confirm that controls are effective-In this stage management track the
progress in implementing controls, inspects and evaluate controls once they are installed.
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4. Explain strategies to identify inadequacies in existing risk controls according to the
hierarchy of control and WHS legislative requirements.
Monitoring and measurement- In this includes testing and monitoring requirement for
aspects of the operation of building, equipment, essential services, waste disposal,
activities involving chemicals, radioactive substance and other relevant legislatives.
Incident investigation, correction and prevention action- Record of incidents, accidents
and reported hazards are maintained by the workplace health and safety team. In this stage,
preventative action is reviewed by the workplace health and safety team for ensure
completion and effectiveness.
Workplace inspection- In this strategy, inspection is completed by the safety support
officer. Recording sheet are forwarded to the head of the work unit to implement corrective
action and follow up by the safety support officer(Awadallah, Milanovic and Jarman,
2015).
Record and record management-In this strategy, management keep record of health and
safety and maintain collage record management procedure. In the requirement of
legislation includes accidents and hazard report and confidential storage of workers
compensation file.
Part D
1. Describe what safety issues are identified by the survey.
First aid incidents
Medical treatment injury
Lost time injury
Near miss incidental
Lost time injury frequency rate
Incident rate
Many people are remaining at their desks for long periods of time with minimal breaks
and they have adopted poor posture at their workstations.
2. Use the internet to locate a specialist who should be able to provide relevant
information and services the Institute requires.
With help of internet proper information can easily collect. Corporation can design its
own web page on the internet so as every one can easily get knowledge and information
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about changes in policies, practices, system and procedure.
3. Explain strategies to improve the situation by using the specialist and identify what
resources to enable implementation of the strategies.
Use high quality of resources- By use of high quality of resources and technology, quality
of services can improve and overcome uncertain hazard and risk.
Training and development- Proper training should give to workers and staff member so as
they can safely carry out their working activities at workplace.
Follow legislation strictly- All regulation and legislation should follow in effective
manner at workplace.
In order to implement the strategies there are required major three kinds of resources
which are discussed below-
Physical resource/ Human resources- In order to implement the strategies for improve
situation and work health and safety management required physical resources and human
resources. In the absence of employees and staff member it is not possible to implement
strategy at workplace (Acharyya and Brady, 2014).
Financial resources- Financial resources aids in purchasing necessary equipment,
machinery and system. In the absence of financial resources it is not possible to
implement strategies regarding health and safety.
Technical resources- Technical resources assists in improving quality and effectiveness
of the services and facilities in the ABC college.
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REFERENCES
Books and Journals
Acharyya, M. and Brady, C., 2014. Designing an Enterprise Risk Management Curriculum
for Business Studies: Insights From a Pilot Program. Risk Management and Insurance
Review. 17(1). pp. 113-136.
Andersen, T., n.d.. A Strategic Risk Management Framework for Multinational
Enterprise. SSRN Electronic Journal.
Awadallah, S., Milanovic, J. and Jarman, P., 2015. The Influence of Modeling Transformer
Age Related Failures on System Reliability. IEEE Trans. Power Syst. 30(2). pp. 970-
979.
Bainbridge, S. M., 2009. Caremark and enterprise risk management. UCLA School of Law,
Law-Econ Research Paper. 25(2). pp. 09-08.
Banks, E., 2013. Enterprise Risk Management. Alternative Risk Transfer: Integrated Risk
Management through Insurance, Reinsurance, and the Capital Markets, 171-192.
Berkowitz, S., 2001. Enterprise risk management and the healthcare risk manager. Journal of
Healthcare Risk Mgmt. 21(1). pp. 29-38.
Chitakornkijsil, P., 2010. Enterprise risk management. International Journal of
Organizational Innovation (Online). 3(2). pp. 309.
Connelly, N., 2014. Sharing in the Caring: Enterprise Risk Management, Disney
style. Journal of Healthcare Risk Management. 34(2). pp.3-3.
Duckert, H. G., 2010. Practical Enterprise Risk Management: A Business Process Approach.
John Wiley & Sons
Fraser, J. and Simkins, B., 2010. Enterprise risk management. Hoboken. N.J.: Wiley.
Hampton, J., 2009. Fundamentals of enterprise risk management. New York: American
Management Association.
Hampton. J. J., 2014. Fundamentals of Enterprise Risk Management: How Top Companies
Assess Risk, Manage Exposure, and Seize Opportunity. AMACOM.
Hartley, K., 2012. COMPANY SURVEY SERIES: I: BAE SYSTEMS PLC. Defence and
Peace Economics. 23(4). pp.331-342.
Hillson, D., 2014. Caratteristiche di un Enterprise Risk management efficace. PROJECT
MANAGER (IL). (18). pp. 24-25.
Lloyd, S., 2001. The Data Protection Act 1998 and the occupational physician. Occupational
Medicine. 51(6). pp. 414-415.
Online
The Purpose of Risk Management in Healthcare. 2017. [Online]. Available through:
<http://elearning.scranton.edu/resource/business-leadership/purpose-of-risk-
management-in-healthcare>.
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