Macvile

Risk monitoring and control is the next step and involves the owners of the risks to monitor various risk triggers. This works by scanning the project environment for both identified and unidentified threats and opportunities much like a radar screen (Marchewka, 2009). This approach directly relates to how to respond to the risk. Risk response allows the owner of the risk to commit resources and take actions once the risk is known or opportunity is available. This action usually follows the planned risk strategy.

The company main concerns are competition and to keep employees motivated. Basically what people do in an organization and their behavior will

Week 2 Course Project Assignment; Project Sizing and Stakeholder Analysis PROJ 420 Week 2 Discussion 1 The Initiation Step PROJ 420 Week 2 Discussion 2 Risk Identification PROJ 420 Week 3 Course Project Assignment; Project Risk Breakdown Structure PROJ 420 Week 3 Discussion 1 MRP Process PROJ 420 Week 3 Discussion Risk Identification PROJ 420

Risk management is a process for identifying, assessing and prioritizing risks of different kinds. Once the risks are identified, the risk manager will create a plan to minimize or eliminate the impact of negative events. A variety of strategies is available, depending on the type of risk and the type of business. There are a number of risk management standards including those developed by the Project Management Institute the International Organization for Standardization the National Institute of Science and Technology and actuarial societies. Organizations uses different strategies in proper management of future events such as risk assumption, risk avoidance,

This project provides an opportunity to apply the competencies gained in the units of this course to

After the risk assessment tool was used to evaluate the risk to the organization, an appraisal of all potential risks were identified, for the initial part of the project through brainstorming. The following are risks that have been identified initially for this project:

Macintyre et al. propose three unique explanations for why health varies based on geographical location. The first is a compositional explanation, and is focused on the individuals themselves. It takes into account, as the name implies, the composition of both the self and the group, as each individual is part of the larger community. As described by the article, this explanation includes "the characteristics of individuals concentrated in particular places" (p. 130). A second explanation is contextual, which implies that the physical and opportunistic structures within an environment, both in a physical and in a social sense, are important to explaining varied health outcomes. The third explanation is collective, which pays strong attention

(cite) explained that risk management is the decision-making process to identify threats, vulnerabilities, and impacts of the threats on business objectives. In the Blue Spider (BS) project, it was clear from the beginning that the organization did not manage risk properly. The problem began when Henry Gable, as the director of engineering, made the unethical decision to lie about the project specifications. The unethical decision by Gable would be the key reason of many risks faced by Gary Anderson throughout the project. Furthermore, (cite) explained that there are five risk response strategies that an organization could take. The strategies are listed as mitigating risk, avoiding risk, sharing risk, retaining risk, and transferring risk. It is clear that Anderson did not maintain risk assessment and response plan since the beginning of the project.

Risks are probabilities that could render a business to have lower than anticipated profits. This could be due to various and numerous factors. The identification, acknowledgement and acceptance of these risks are fundamental to every business, Coffeeville in particular. This report will outline CoffeeVille’s exisiting Risk Management Policy. It will also determine its effectiveness with regards to risk identification, management and control.

The risk management plan defines what activities within the organization are critical to operations. During this stage of planning, Wilma Stone, Margie Nelson, Gary Thomas and other Sunshine Machine Works Management personnel will need to determine how much of a risk the organization is exposed to and create a plan to minimize the amount of damage the exposure could have. Other stages of the risk management planning process will include the likeliness of the risk happening, what the consequences will be, and which risk are considered priority.

The risk management assignment of the Macville Pty Ltd involves different types of the elements that helps them to facilitate an efficient and effective operation. Elements of Macville risk management generally include different policies and procedures, business planning and budgeting, review regarding the risk management, different monthly report and external audits so they can understand the current position of the organisation and enable the quick response so they can avoid risks regarding the strategic as well as commercial risk. Different policies regarding the human resources, corporate governance and finance helped them to understand different types of problems they are currently facing so they can develop

Risk management is the term applied to a logical and systematic method of establishing the context, identifying, analyzing, evaluating, treating, monitoring and communicating risks associated with any activity, function or process in a way that will enable organizations to minimize losses and maximize opportunities. (Lecture notes)Risk Management is also described as 'all the things you need to do to make the future sufficiently certain'. (The NZ Society for Risk Management, 2001)

Discuss the risk management process presented in the course text (Page 8 of session 1). Apply it to a specific risk present in your own workplace and pay particular attention to any secondary risks that may be introduced.

• describe what level and type of support you need in order for your risk management plan to be effective and discuss the strategies that you will use in order to obtain that support

The Risk Management Plan has been created in the Planning Phase of the project and is monitored and updated till completion. Monthly Reports should cover what effects any risks have caused to the project and what can be done on a daily bases to keep the impact of effects at its lowest at all times.