Risk Analysis Case Study Synaptic Essay

The case study selected for week three centers on a liability and assumption of risk case study. In this case study, Brent Thomas and George Banks are facing liability charges after Ricky Watts sustained a serious injury during hockey practice (Essex, 2016). In this situation, Thomas is the school principal, and Banks is the hockey coach as well as the gym teacher (Essex, 2016). Ricky obtained injuries after improperly blocking the puck (Essex, 2016). This case study was selected because it highlights a situation that will likely be faced by all future school leaders. Sports are popular among students, and there is inherent risk in each sporting event. A school is open to liability if they do not ensure that proper protocols are met.

Your Course Project milestone for Week 2 will be to develop your project sizing and stakeholder analysis.

After considering my above feelings and thoughts I realised that by being aware of the time I spent on the risk assessment, I was able to keep it as necessary and as concise as I had hoped for. Previously I have ran out of time completing the full assessment, meaning that the ending of the assessment is typically missed off. According to Westbrook et al (2007) five or ten minutes is required at the end of treatment to conclude and set up a homework task. Although at the time I was feeling anxious and nervous; attempting to keep track of the time allowed me to achieve the assessment in the time I had allocated myself.

As a team, we did not work overly well together as we duplicated much of our work, had significant disagreements regarding our answers and still ended up with incorrect answers. Essentially, we inadvertently modelled a Decision-Making Authority model but failed to be economically rational.

State Farm must receive the appropriate clearance from Canadian authorities to complete the construction of the call center. Building codes are mandated by the local and national authorities to verify undue pejorative influence on

The use of pesticides is an important decision that thousands of communities face each year. Nobody likes dealing with mosquitos and the diseases they bring so using chemicals and pesticides is an option but with other consequences. Mosquitos carry West Nile Virus that affects the city of Genericville every year with 50 cases projected this year in the city and two fatalities as well. On the other hand, the chemicals proposed for controlling the mosquito population has its own risks. The pesticide Malathion is also dangerous to people if they come in contact with it before it degrades. The potential for citizens of the city being exposed is almost a certainty

The issue of risk scenario carries immense importance for most of the hospitals that are part of the healthcare setting. However, there is not only one scenario that can affect the hospitals but

Each flowchart step is placed in the “Lane” for the group responsible for completing the task (Marketing, Sales, HR, etc.).

After reading the case, one continues to come up with new problems and issues along the way that are related to information technologies. The three main problems we encountered in this case are lack of IT knowledge, inappropriate planning, and ineffective and inefficient Resource Management. Each of these issues requires specific attention to fix the next problem and so forth. The solution to attack each individual problem or issue will be explained as follows.

Internet surfing might be at risk in this product as web commenced is in used.

Aegis Analytical was a start-up, manufacturing process software provider, developing solutions for the pharmaceutical industry. The company was founded on managerial know-how, established by two co-founders with in-depth knowledge of the manufacturing domain and software know-how, developed their flagship product called Discoverant. Discoverant was a revolutionary product that offered a solution to highly complex problems in the manufacturing process of pharmaceutical companies. The software had the following features: it collected data during the production process, tracked failures and then analyzed the data to give sophisticated bases for solutions to managers. Aegis aspired to be the recognized leader in the process

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?

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)

“First, it neglects the fact that those who benefit may not be the same as those who pay the costs.

Risk allocation is performed as part of the development of the project structure, which takes into account the distribution of responsibilities and risks during the planning, construction, financing and operating phases (Corner, 2006). The aim is to identify an efficient and effective structure that optimises the costs of the project and ensures that the risk occurrences do not damage the project (Delmon, 2009). According to Grimsey and Lewis (2007) risk allocation has two elements: optimal risk management and value for money. The first implies that the