This project assesses the risk management practices of Centrix, a service-based IT solutions company. The project begins with an introduction to Centrix, its services, core values, and stakeholder analysis, identifying both internal and external stakeholders and their concerns. It then delves into the scope of the risk management process, examining political, technological, economic, environmental, and social risks, alongside relevant legislation and competitor analysis. The project reviews Centrix's existing risk management processes, referencing Australian Risk Management Guidelines and communication strategies. Part 2 focuses on risk identification, reviewing strengths, weaknesses, opportunities, and threats (SWOT) analysis, and identifying risk sources, events, causes, and consequences. Part 3, the core of the project, involves analyzing risks, including delayed services, malware attacks, data loss, and environmental and economic risks, and populating a risk register with detailed analysis of each risk's event, cause, consequences, and current management strategies. Finally, a risk evaluation is conducted to prioritize the identified risks, determining their acceptability and the need for treatment. The project underscores the importance of a proactive and comprehensive approach to risk management in the context of Centrix's operations.
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