Risk management plan Report 2022

Running head: RISK MANAGEMENT PLAN
RISK MANAGEMENT PLAN
Name of the Student
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1RISK MANAGEMENT PLAN
Abstract
Bhopal gas tragedy happens to be the deadliest industrial mishap in the world’s history. It
brought it with huge destructions and after effect. The various causes that led to the accident
have been a topic of debate. There have been various versions of the causes that led to the
huge destruction. The paper below will be discussing on the risk management ideas related to
Bhopal gas tragedy. The motive of the risk management plan is to define the various risks
associated with the tragedy. The paper concludes by providing certain recommendations on
risk monitoring tool and practices that could have prevented the occurrence of such a huge
disaster.

2RISK MANAGEMENT PLAN
Table of Contents
Introduction................................................................................................................................2
Purpose of this Risk Management Plan.................................................................................2
Cause behind the tragedy...........................................................................................................2
Identification of the Risk............................................................................................................3
Risk Analysis.........................................................................................................................4
Risk Response Planning.........................................................................................................5
Risk Monitoring, Controlling, And Reporting.......................................................................6
Tools and Practices....................................................................................................................6
Conclusion..................................................................................................................................6
References..................................................................................................................................8

3RISK MANAGEMENT PLAN
Introduction
The disaster that occurred at the Union Carbide India Limited (UCIL) on 2nd and 3rd
December 1984 is known as Bhopal gas tragedy. The pesticide plant is located in the Indian
state of Madhya Pradesh. This incident is tagged under the world’s most pathetic industrial
disaster. Reports suggest that almost 500,000 people were victims of this leakage and were
exposed to the poisonous methyl isocyanate (MIC). Different estimates give different records
on the death toll (Palazzi, Currò & Fabiano, 2015). The reason behind this huge disaster is
always debated upon. According to the Indian government and the local activities the reason
was lack in slack management techniques and improper maintenance. Union Carbide
Corporation argued to this that the incident had taken place due to deliberate attempts of
some people (Mittal, 2016). This paper will be analyzing the incident to find out the most
probable causes and what could have been the proper step to avoid the risk or recover from
the same.
Purpose of this Risk Management Plan
Risk Management refers to the procedure involved in identifying, monitoring, assessing
and reporting the various risks involved in the operations of any organization (Mishra et al.,
2015). The Risk Management Plan will be defining the various risks associated with the
Bhopal Gas Tragedy. It will outline the processes in which the risk management activities
could have been performed to recover from the situation. The cause behind such a big
disaster will be analyzed along with the steps which could have saved the plant form such
disaster.