Risk Management Report: Exploring Risk and Case Study Analysis

This report delves into risk management, beginning with an overview of best practices, including risk identification, analysis, evaluation, mitigation, and monitoring. It then presents a SWOT analysis of an organization, outlining its strengths, weaknesses, opportunities, and threats. Furthermore, the report analyzes a case study focused on the Public Sector Authority, addressing factors influencing risk culture, the benefits of recommended activities, and the responsibilities of managers, supervisors, and team leaders in managing risk. The report explores the importance of confidentiality, fraud awareness, and the role of IT procedures and training in mitigating risks within the organization. The report examines the potential for fraud and the steps required to address it.

Running head: MANAGE RISK
MANAGE RISK
Name of the student
Name of the university
Author note

1MANAGE RISK
Workshop activity 2- Exploring the Web
Section 1
The steps that are enumerated as a part of the best practices of the risk management are
identification of the risk content, analysis of the risk, evaluation and prioritization of the risk,
treatment or mitigation of risk and monitoring activities. In this relation, our current workplaces’
management board takes the initiative of identifying the different risks that are associated with
the process design and the outcome of the same. After identifying the risk, a risk analysis and
categorization procedure is initiated with the purpose of identifying the major steps that might be
considered for treating the risk.
Post the analysis and categorization of the risk, a prioritization of the risks on the basis of
ranking system is done which supports in identifying the likelihood of the risk factor and the
impact that the same might create to disrupt the organizational procedure. Treatment of the risk
through effective mitigation strategies follows the evaluation and prioritization related activity
that is undertaken by our organization. Lastly, our organization take the initiative of continuous
reporting for monitoring over the mitigation strategies and the applicability of the same in the
risk context.
Section 2
A SWOT assessment enables an organization in identifying the different strengths,
weaknesses, opportunities and threats that are being encountered by the venture while operating
in the different markets. In this connection, the research will undertake a SWOT assessment of
our organization with the purpose of identifying the competencies and opportunities of the same.
Strengths
 Brand reputation
Weaknesses
 Slow growth in the developing

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 Distinguished social media and online
presence
 Diverse range of propositions
 Effective customer service
economies
 Rising operational costs affecting
margins
 Degrading supplier relations
Opportunities
 Introducing enterprises in the
developing economies
 Improving customer experience
Threats
 Financial volatility in the different
markets
 Decrease in the disposable income
Workshop activity 3- Case study: Avoid improper dealings
Answer to question 1
The major factors that might influence the risk culture in Public Sector Authority is
related to confidentiality of the information. Confidentiality of information plays an important
role in improving the operational processes in accordance with the strategic aims of the venture.
The risk culture in Public Sector Authority is specifically based on the factors of staff
engagement in improper dealings, compromise in the communication techniques and the
improper arrangement of fees for the services relating to building contracts. Therefore, the risk
culture of the organization is specifically shaped through the risks that are being faced by the
organizations and the manner in which the same might be mitigated.
Answer to question 2
The benefits that the Public Sector Authority might gain through the development of the
different recommended activities are specifically related to upholding the integrity and
confidentiality of case sensitive information while complying with the legal requirements in the

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procurement process. On the other hand, the recommended activities would also support the
organization in creating fraud awareness and prevent unauthorized payments during the process.
Moreover, the up- gradation of the IT procedures would enable the organization in improving the
rate of operation in accordance with the needs of the venture while operating in the different
markets activities. Training of the members in the procurement team would allow Public Sector
Authority in influencing an organized structure to the activities in compliance with the different
legal requirements.
Answer to question 3
Mangers in the Public Sector Authority are responsible for analyzing the risk content of
the different activities and assignments that are submitted from the different departments. The
managers take the initiative of developing consolidated reports on the overall risk contents in the
different activities while supervising the various measures for minimizing the overall fraudulent
activities. The supervisors are responsible for examining the different activities that are
undertaken by the different respective departments. Moreover, the supervisors create report on
the everyday operations which are forwarded to the manager for reviews. Lastly, the team
leaders take the responsibility of identifying the major risks and controlling the same that might
result out of the activities that are undertaken as per the common objectives of the venture.