Assessment Task 2 : Manage Risk

3.4 summarise the types of risks that may be involved in assessment in own area of responsibility.

my setting by carrying out risk assessment checks for example we have a daily health and

For the case study provided with this Assessment Task, you are required to review risk management processes and determine scope and objectives, taking into account stakeholder input and both internal and external environmental factors affecting the organisation. With the information gathered, you are

The purpose of a risk assessment (RA) is to identify the entire organization’s risks and quantify the

1.3- Explain what risk assessment is and how this is managed in the work setting.

Your setting should have copies of the latest legislation and guidance as well as their own policies and procedures.

Procedures and policies govern, and are employed by, professionals working with children. They also set out the requirements by local national council, and how this affects them in their day to day working practices. These legislative documents include, for example: Working Together to Safeguard Children 2015. The Framework for the Assessment of Children in Need and their Families 2000.

To be suitable to become register within the HCP Council, there are certain requirements and standards that must be met in the form of values set out by the organisation which complements guidelines issued

Some risks may be of greater concern than the others. Prioritizing is important to decide the appropriate course of action as the actions will not mitigate or respond to all the risks. Organizations determine acceptable degrees of residual risk based on organizational risk tolerance and the specific risk tolerances of decision makers. [1]

take care to protect their own health and safety and to avoid adversely affecting the health and safety of any other worker.

What information sources have you used to conduct the assessment of your organizations risk management processes (list any relevant policies, procedures, guidelines, discussions etc.)

develop a methodology for quantifying risks, or should each situation be addressed individually? Can we have both a quantitative and qualitative risk evaluation system in place at the same time?

Every firm faces risks, both internal and external, that must be dealt with. In order to assess risk, the auditor must understand what roll the area that’s being audited plays in the business. The purpose of risk assessment is to identify and evaluate the risks relevant to that area of the business and to determine how to manage these risks. The auditor then identifies the internal controls that regulate those risks – these are the internal controls the auditor should focus on. As a result of identifying the relevant risks, the auditor should be able to develop a scope for the audit. The goal is to provide a framework in which to develop the audit plan.

For both main and supporting principles, an organization needs to state how they apply those standards. In view of the Code prerequisites, an organization need to state whether they follow the procurement or not and give along the illustration which is called

What do you consider to be the most important issues that need to be addressed by organizations seeking to develop their risk management capability?