Security Risk Management Plan Assignment 2022

Running Head: SECURITY RISK MANAGEMENT PLAN 1
Security Risk Management Plan
Name:
University affiliation:

SECURITY RISK MANAGEMENT PLAN 2
Introduction
A security risk management plan helps to identify, monitor and manage security
problems that are potential before they can occur; this helps in the planning of risk handling
activities that can be put in place to counter the upcoming risks. (Pritchard & PMP 2014). To
successfully achieve the set objectives of a project a risk management plan must be drafted
(Kliem & Ludin 2019). A security risk management plan will enlighten the potential security
threats that can affect the operations of a project; these security risks can be associated with
suspected criminal activities, developing crime patterns or technological advancement that
can harm the systems of the organization. This paper contains a detailed security risk
management report for East Marine Supplies (EMS) that will project the purpose and
importance of conducting a security risk management plan, the process and steps to an
effective risk management plan and how it is related to the success of EMS. There have been
new developments in the security sector that have been driven by technological developments
in crime patterns. It’s therefore important that a security risk management plan is drafted to
bring to copy the possible threats that might interfere with the normalcy of operations in a
business (Aven, 2012).
Contingency plan for EMS
EMS is one of the leading firms in the supply and installation of equipment for
maritime vessels, one of the methods used in sales in the use of an online platform created to
enable the customers to make their orders and pay for the services. As a firm that has
endorsed technological advancement in service delivery, the systems must be well maintained
and protected from harm caused by hackers and thieves. A security risk management plan
will assist to enlighten the management of the possible security threats and the risks that they

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impose on the firm. Risk management will assist in the early detection and management of
such risks. EMS being a firm with quite several employees it becomes important to ensure
that both the employees and the systems they operate are secure from harm.
As a measure of protecting property and employees, physical security should be
adhered to, all the access points and the perimeter walls of the stores should be properly
manned and surveyed. Risks that can cause harm to either the employees or the system will
affect the productivity of the firm; therefore a security risk management plan must be
generated to ensure safety.
Benefits of a risk a management plan to EMS
A business that has long term goals must prioritize the drafting of a risk management
plan to achieve the following reasons; assist in the identification of security risks that are
not apparent; this provides a platform for providing a deeper understanding of all types of
security risks comprehensively (Hopkin, P. (2018). This plan helps to provide insight and
support to the board of directors in identifying potential security risks that are outside their
areas of experience. This will provide an advisory platform to the board members and its
committees. The security risk management plan will assist the organization to get credit for
the corporation from regulatory agencies who want to see measures in place to curb potential
risks. The plan will also assist in building a better defense of class actions by showing the
risk mitigation plans that have been in place to minimize the risks. This is usually during
plaintiffs in class actions in defending the fact that there was no negligence.
This plan also assists to reduce business liability by reducing the litigation risk
upfront to win the trust of investors and attract more. This enables the organization to prevent
any liability that might come forth. (Grace et al. 2015). The plan also assists to frame the

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available regulatory issues by providing more insight on insurance and liability issues to get
more focused.
Security Risk management process
The first process in security risk management is identifying the hazards that will
lead to the projected risk. During the identification of the hazards, an inspection of the
workplace will be done to understand the operations involved in the organization, emphasis
will be laid on the physical work environment, the equipment, and materials used in the
organization, work tasks and how they are performed, work design and management. When
identifying the hazards both the existing and suspected hazards are included in the
documentation of hazards. It's also important to engage the workers to identify their
discomforts and potential hazards and then review the available data that has been
enlightened.
The next process of security risk management plan is to assess the available risks,
after the identifications of a risk an assessment of the risk follows. In this process, the
characteristics of the hazardous risks and their relationship to productivity will create a
deeper understanding of the potential risks and their cause (Hopkin, P. (2018).
The next process involves controlling the risk from the highest level of protection to
the lowest. In this process the risk can be eliminated if there are avenues of immediate
elimination, the risk can be substituted and replaced by factors that have a lighter impact on
production or the risk can be isolated by proving full independence from the risk factors. The
risks can be engineered by adopting technical solutions. The risk can also be altered
administratively by the adoption of new policies to curb the effects of the risk and lastly
personal protection equipment can be adapted to control the effect of the risk at hand.