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Running Head: RISK ASSESSMENT 1Risk Assessment Name of the Student:Name of the University:Course Number:
RISK ASSESSMENT 2Introduction The entire project will revolve around the risk assessment. It can be said that the risk assessment is one of the major elements of an organization in the recent times. It is mainly a vitalpart of managing the safety and health of the business for controlling the risks in the workplace. On the other hand, the risk assessment is also a determination of the qualitative as well as a quantitative estimate of risk that is directly related to a particular situation and a threat that is recognized also known as a threat. The risk assessments help a company to identify the main hazards that can have a negative impact on a company's ability to conduct the business activities.Furthermore, the risk assessments also help to identify the inherent business risks and provide controls, measures, and processes for reducing the impact of the risks on the operations of the business. There are a large number of companies across the globe that uses the risk assessment framework for sharing and prioritizing the details of the assessment that contains any type of risks with regards to the information technology structure. The chief risk officer mainly conductsthe entire process of the risk assessment. However, there are some of the important steps for carrying out the risk assessment such as: Firstly, the identification of hazards is necessary, then determining the individuals who can be harmed by the hazards, evaluating the particular risks and developing proper control measures, recording the findings and updating and reviewing the risk assessment on a regular basis. The entire project will be divided into a project proposal, Annotated bibliography and risk assessment report. Project proposal The company that is taken into account for the risk assessment is Deloitte. It has been observed that Deloitte is present all across the globe. The location that is considered for this
RISK ASSESSMENT 3study is Deloitte in U.S. and the address is 420 20th St N #2400, Birmingham, AL 35203, USA. Deloitte is one of the best multinational corporations in the entire world and the founder of the company is William Welch Deloitte and it is headquartered in London. The main services of Deloitte are Audit, Legal, Management consulting, financial advisory, and Tax (Deloitte LLP Dr.Patchin and Carey, 2012). As per the website of the company it can be said that Deloitte refers tothe brand under which the independent companies throughout the world collaborating to the above-mentioned services (Bahr, 2014). One of the key business areas of the Deloitte is technology. The key objectives of the company are as follows. Firstly, in terms productivity improvements: The company aims in maximizing the asset utilization and minimizing the downtime, managing the synchronization and supply network costs, planning accuracy and stability, and driving the indirect and direct labor efficiency. Secondly, in terms of the risk reduction: the company ensures the availability and right price of the raw materials, managing warranty and mitigating the geographic risks. Thirdly, in case of the incremental revenue: Deloitte find sources of growth for the core business,the company also aims at deepening consumer insights and understanding. Lastly, one of the main key objectives that are new revenue: The company, in this case, creates service and the product offerings, identifies the opportunities that are quite attractive in nature and they are also expanding their roots in the emerging markets (Hopkins, 2011). The main purpose of this proposal is the risk assessment in Deloitte. The research methods are mainly the data analysis and data collection represents the main research methods. The research methods that will be used in the study are the exploratory research and the explanatory research (Covello and et al, 2013).The exploratory research is conducted mainly when there are no or few earlier studies with regards to which the references can be made for the
RISK ASSESSMENT 4information. In this study, the exploratory research will help to determine the best data-collectionmethod, research design, and selection of the certain subjects. A lot of methods such as interviews, discussions, and other tactics are also used for gathering more information. On the other hand, the explanatory research will be conducted for establishing the final result rather thangiving priority to the result. Moreover, it has been witnessed that the analytical approaches is applicable for the all the stages in the entire research (Haimes, 2015). Throwing light on the above-mentioned statement it can be said that there are three analytical research methods: Grouping Analysis approach, Regression Analysis approach, and Multiple Equation Methods. It can be also said that the particular research method that is chosen for a study completely dependson the type of research that is aimed at carrying out. The research will also highlight the risk assessment and the compliance risk assessment practice in the organization. The main aim of the report will be directly focused on the main topic that is the risk assessment.Annotated bibliography Lavastre, O., Gunasekaran, A., and Spalanzani, A. (2012). Supply chain risk management in French companies.Decision Support Systems,52(4), 828-838.In this article, it has been highlighted that the risk thematic is not at all new in the world of management but the risk assessment is one of the main elements and also a growing subject inthe supply chain management. The supply chain risk management plays an important role with regards to identifying and managing the various processes that are related to a business in a proactive manner. However, it has been also highlighted that the supply chain risk has a lot of sources including supply, process, control, and demand. These are some of the risks that have been identified faced by the supply chain management. Adequate responses, specific techniques,
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