Risk Management Procedures and Analysis

Manage Risk

TABLE OF CONTENT
INTRODUCTION.................................................................................................................... 3
ASSESSMENT 1...................................................................................................................... 3
Question 1............................................................................................................................ 3
Question 2............................................................................................................................ 3
Question 3............................................................................................................................ 3
Question 4............................................................................................................................ 4
Question 5............................................................................................................................ 4
Assessment Event 2: Smar Tech Simulation.................................................................................5
TASK 1................................................................................................................................... 5
1.1Risk scope statement.........................................................................................................5
1.2 Stakeholder analysis.........................................................................................................5
1.3 Industry analysis.............................................................................................................. 7
1.4 Strengths and weakness of existing arrangements................................................................8
1.5 Success factors................................................................................................................8
1.6 Communication plan........................................................................................................ 9
TASK 2................................................................................................................................. 10
2.1 Research risks that may apply to scope.............................................................................10
2.2 Use tools and techniques to generate a list of risks that apply to the scope............................10
2.3 Communicate with the Risk Manager in the identification or risks.......................................13
TASK 3................................................................................................................................. 14
3.1 Assess likelihood, impact and consequence of risks......................................................14
3.2 Evaluate and prioritise risks for treatment....................................................................14
TASK 4................................................................................................................................. 14
4.1 Risk Treatment and Action Plan......................................................................................14
4.2 Implementation Plan critical activities :............................................................................17
4.3 Communicate risk management processes to relevant parties..............................................17
4.4 Monitor and evaluate the outcomes of the risk management process....................................17
CONCLUSION...................................................................................................................... 18
REFERENCES....................................................................................................................... 18

INTRODUCTION
The report will be analysing various paradigms of risk management procedures within
assessment and stakeholders investing further focus and diversity aspects where the study
will be researching aspects within functional scenarios widely.
ASSESSMENT 1
Question 1.
Risk management standards set out a specific set of strategic processes which start
with the overall aspirations and objectives, for identifying objectives actively.
Risk management standards hold wide importance for new functional innovation within
framework, where current risk standards for investing in shares and capital structure
development widely enable company to keep efficiency high. The risk management also
productively has the purpose to functionally be active on varied paradigms where stronger
functional synergy is high, and keen progression building scope for business profitability
within wider aspects.
Question 2
The current risk management standards are widely advanced among competitive
industry domains where assets are protected based on quality aspects and control at
acceptable levels are adequately developed. The purpose of these principles within
management standards has stronger synergy to keep up growth advancement and overall
productive growth aspects in longer term (Beasley and et.al., 2019).
 Risk management establishes and sustains value.
 Risk management is an integral part of all organizational processes.
 Risk management is part of decision making.
 Risk management explicitly addresses uncertainty.
 Risk management is systematic, structured, and timely.

Question 3
The components of risk management framework is widely focused on keen growth
arena where risk identification, measurement and assessment, risk mitigation and risk
reporting, monitoring and risk governance which enables companies to widely grow within
industry fast evocation synergy. Purpose of risk identification is focused on analyzing
domains where company needs to work forward, the measurement of risk analyses risk
factors and assessment enables risk mitigation to keenly work towards larger vision
formational aspects. Risk reporting and monitoring is actively focused on working with
stronger working innovation, high scale functional opportunities and new quest horizons to
be actively focusing towards scaled growth arenas. Risk Management Framework (RMF)
Overview is the best framework for gaining best work growth functionally for strengthening
new resourceful structured efficacy paradigms.
Question 4
The risk assessment firstly focuses on identification of hazards for assessment which
develops focus on keen parameters for stronger working innovation, controlling of risks is on
the next step and review of control measures is last and final step (Berry‐Stölzl and Xu,
2018). Scope of first step is focused on work within top management where varied arenas and
determinants of large functional are assessed for large revenue growth. Control risks and
reviews at last step enables to keep productivity at strong rate, fast quest goals enhancement
and new scenarios for larger technical growth operational advancement.
1. Step 1 - Identify hazards. Find out what could cause harm. ...
2. Step 2 - Assess risks. ...
3. Step 3 - Control risks. ...
4. Step 4 - Review control measures.
Question 5
Legislative & Regulatory
Context Explanation
Duty of care
Duty of care is highly focused on keeping
up with company employees and
management.