Detailed Risk Management Report for ABC Fitness Gym - Analysis

This report provides a comprehensive risk management analysis for ABC Fitness Gym, focusing on technical risks within the business. It begins with an executive summary that outlines the gym's operations and the scope of the risk assessment. The report includes a detailed risk assessment, identifying key threats, vulnerabilities, and potential consequences. It uses an IT control framework and industry recommendations to analyze the technology environment. The analysis categorizes risks based on likelihood and impact, offering mitigation strategies and protection mechanisms involving people, culture, and technology. Furthermore, the report highlights gaps needing further analysis and recommends proactive measures for effective risk management. The report also includes a risk log, treatment priorities, and a risk management strategy for ABC Fitness Gym, along with references.

Running Head: Risk Management Report 1
Risk Management Report
Affiliate Institution
Professor’s Name
Student
Date

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Executive summary
ABC is located in Sydney and is focusing on wellness that gives exercise centre
administrations and gymnastic sessions. The business has been running for close to three years
since its establishment, and it is overseen by a group and its staffs. Among the supervisors are
the proprietors of the inside of the business and they also involve themselves the company’s day
by day activities to ensure clients are well taken care of. The business centre is viewed as a
medium-size fitness community due to its size and is proposed to give administration to nearby
residents and specialists, who utilize their available time to practice each day or frequently, in
any case, the focal point of the administrations give is to advance a wellness sessions, where the
clients will prepare serious cycle of activities to get the body molded true to form. (Bessis, 2015)
Partners of ABC Fitness Gym are the proprietor, chief, educators and whatever other staff
that may know about the threat the board at the business and how to manage any issue that may
come up. Threat the executive calls for organizing the dangers as indicated by likelihood and
effect. It can needs partners correspondingly - by power and intrigue. Intrigue implies the amount
they give it a second thought and authority likens to their capacity to influence the venture.
Introduction
In spite of the fact that safety net providers frequently treat the political threat as a help,
significant variety in the likelihood deficit exists at the firm level. Individual firms go up against
various wellsprings of arrangement vulnerability and political impact contingent upon variables,
for example, their size, which can impact what sort of visa staff can be procured, which is
connected legitimately to the administration choice in permitting such kind of visas working
licenses. It implies that for Active Square Fitness, all staffs will experience an organization

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determination procedure to ensure every one of the rights and maintain a strategic distance from
any badly arranged issue respects contract data. (Siegrist, Earle and Gutscher, 2010)
ABC Fitness must be consistent with discernibility information, for example, entrance on
the rec centre premises. On the off chance that there is an issue, innovation will recognize it and
fathom it. Innovation will likewise help on the presentation of the clients by giving activities
observing and electronic criticism respects the improvement given by the wellness sessions.
Threats, vulnerabilities and assets and consequences
The task in which the director is working with the undertaking group and venture
supporters will assure effective danger recognition, break down and oversees the duration of the
life for undertaking. Dangers will be distinguished on time as conceivable in the venture in order
to limit their effect. The means for achieving this are laid out in the accompanying segments. The
ABC chief will fill in as the Risk Manager for this undertaking. As far as qualities are concern,
the procedure permits an effective threat examination. Dangers identified are assessed to
differentiate the performance of the venture results. However, the possibility and effectiveness of
the event for each threat should be surveyed by the venture chief.(Siegrist, Earle and Gutscher,
2010)
Nonetheless, staffs must be ready to push ahead with any issue that may occur. Since the
fitness center is still young, shortcomings can be seen as obstacle. Hence not offering enough
time for preparation of staffs to oversee threat evaluations.
Countermeasures

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Each significant threat will be doled out to a task colleague for checking purposes to
guarantee that the threat won't "get lost in an outright flood". For each significant threat, one of
the accompanying methodologies will be chosen to address it:
1. To clear – remove the danger by doing away with the reason
2. To reduce – Identify approaches to reduce the impact of the threat
3. To admit – No changes to be done
4. To move – by composing another meeting to take care of the risk
There is a likelihood of having no danger every year. Every one of them ought to be
recognized by experts effectively.
A Risk Log to be kept up by the venture director and be investigated for undertaking
group meetings. (Merna and Al-Thani, 2011)
Threats and risk chances
The likelihood of the risk and threats occurring;
Occurrence Chances Results
Injured
physically
Medium People leaving the fitness centre and go to the health
centre.
Emergency
calling
Low hurts
Poor means
of transport
Low May cause damage
Lack of
customers
Medium Low-income generation
Legal issues Medium Poor market.
Staff
turnover
High A lot of time consumed during the training of new
people.
The impact of consequence if the risk occurs
Event Frequent Probable Remote Improbable
hurts

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May cause damage
People are leaving the fitness
centre for health care.
Low-income generation.
Poor market.
A lot of time consumed during
the training of new people.

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Evaluate and priorities the risks for treatment;
Event Priority of treatment
Hurts 1
May Cause Damage 1
People are leaving the fitness centre
for health care.
2
Low-income generation. 2
Poor market. 2
A lot of time consumed during the
training of new people.
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Below is a random selection of two risks and their most appropriate treatment options.
Risk Treatment
Hurts
Since ABC is a game focus, there is a high
probability of somebody to get injured. In this
way, if that occurs, any staff ought to have the
option to give the medical aid than the
individual ought to be sent home or see a
specialist if essential.
People are leaving the fitness centre for
health care.
Physical wounds can be risky in the event that
they are not checked appropriately. A few
people can get injured and be fine straight
away, be that as it may, some of them may
take more time to take care of the issue which
can transform into lethal occurrence.
Therefore, everybody will be sent to the
emergency clinic for further examination.
To be powerful, a plan of yearly review ought to be presented for your threat to the
executive plan and systems. For individuals from ABC will be reviewed by outsiders both your
threat, the board plan and techniques and you’re proceeding with expert advancement exercises.
In any case, it is prescribed to have your arrangement and methodology freely inspected.
Autonomous reviews would be at the expense of the individual part. (Hulett, 2013)

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The report should be stored in the following document and archives
Version Description Location
1 Report Problem Risk Management
2 Manual of Procedures Manual of Procedures
An arrangement of yearly review ought to be presented for your threat to the executive
plan and systems. For individuals from ABC will be reviewed by outsiders both your threat, the
board plan and techniques and you’re proceeding with expert advancement exercises. In any
case, it is prescribed to have your arrangement and methodology freely inspected. Autonomous
reviews would be at the expense of the individual part.
As per the organization's announcement, "Overseeing danger is integral to the
maintainability of ABC’s matter of fact and conveyance of significant worth to investors. ABC’s
threat the board system is a centrepiece of the administrative structure and incorporates inside
approaches, key administration procedures and culture. (Klijn et al., 2013)
The key hidden rules that impact ABC’s way to deal with overseeing danger are archived in
the Risk Management Strategy (RMS) and are as per the following:
a) managing danger is a necessary piece of accomplishing ABC’s vital destinations and
deciding;

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b) Accepting threat the executives isn't attempting to keep away from all dangers. Or
maybe, dangers should be recognized, comprehended and evaluated against the degrees
of threat ABC is eager to risk are fittingly overseen and observed;
c) to consider the sensible desires for every single outer partner including clients, investors,
the network and controllers in considering factors which bear upon ABC’s proceeded
with great standing;
d) to follow ABC’s legitimate, administrative and statutory commitments; and
e) a proactive threat the board culture at all staff levels inside ABC, giving the
establishment to fitting and supportable threat the board
References
Bessis, J. (2015). Risk Management in Banking. New York, NY: John Wiley & Sons.
Hulett, D. (2013). Integrated cost-schedule risk analysis. Farnham: Gower.
Klijn, F., Schweckendiek, T., Klijn, F. and Schweckendiek, T. (2013). Comprehensive flood risk
management. Boca Raton, FL: CRC Press.
Merna, T. and Al-Thani, F. (2011). Corporate Risk Management. Hoboken: John Wiley & Sons,
Ltd.
Siegrist, M., Earle, T. and Gutscher, H. (2010). Trust in risk management. London: Earthscan.