Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Risk Management
What is Risk?" Please respond to the following:
Risk concerns both positive and negative aspects of an event. Analyze why it is important to consider both perspectives when addressing risk for an organization. Include an example to support your response.
It is important to consider the positive AND negative sides of any given possible outcome because one cannot properly plan for what is and what is not necessary given a certain event for which there is a risk. For example, a snowstorm might make the roads dangerous and thus make it hard for a brick and mortar store to function but the likelihood of customers driving in that same weather is also pretty low, so the overall loss is not as high as it could be if business was lost. However, Amazon (an online store) would not get that benefit…so that point of analysis is important to determine risks and how/when to respond. However, the script would flip if there was a website crash. Wal-Mart would be fine (but not great ) if their website went down but Amazon would be in an immediately world of hurt in the same scenario.
Evaluate how threats and opportunities can be used to an organization's advantage when developing the risk management plan. Argue the value of having a risk strategy despite the...
Include an example to support your response.
Many people in a business environment actively have a problem with business activities that do not have a clear value to the business and/or are clearly a net drain to the bottom line at least most of the time. Having a risk plan even with the drain to the bottom line is not nearly as glaring when a business is ready when the risky event actually happens. For example, a risk management strategy that discusses how to handle a fire or smoke event at a business may seem like a giant waste of time and money but it will quite likely save money (if not lives) when it happens. Disaster preparation would also protect data and allow for quicker and more expedient recovery and that would save a TON of money and/or aggravation. The planning costs time and money but it's invaluable if a firm is ready when disaster strikes.
"Planning for Risk" Please respond to the following:
There are three schools of thought regarding risk. The first considers the positive and negative aspects of risk, but sees them as separate. The second group believes that there are benefits from treating threats and opportunities together, while the third school does not label uncertainties, but addresses uncertainty as part of "doing…
Project Management Project Initiation" Please respond to the following: One of the most important aspects of managing risk for a project is to accurately define the size of the project. Determine the criteria that must be considered to perform the project sizing and create one additional factor with rationale. It is important to measure several important things. First, the amount of money that will have to be invested has to be measured. This
Communication Strategy "Strategic Communication." Please respond to the following: A) the senior vice president of your company has resigned in the midst of buyout negotiations. You do not know all of the details but have been selected as a participant in the news conference to be held that afternoon to announce his departure. The news conference will be open to questions from the media so you need to be prepared to answer
Risk workshops allow for a strong modeling process of any project management problem. Risk workshops, when conducted effectively produce a prioritized list of risks that has an assigned action and stakeholders attached to that risk. As a project manager all risks rely on the details of the project. I would always expect to be briefed on any changes in budget, deadline or change in objective. Identifying risks that address these
Individuals work half a day, or weekly based on the sharing arrangements. Split and sharing of the jobs leads to the organizations benefit, as talented individuals who are unable to work on a fulltime basis get an employment chance. Although adjustment problems occur, the arrangement of a proper schedule is required. III. Telecommuting also known as the flexiplace, is a working condition that allows the least portion of the scheduled
The most effective security reporting procedure is to use the OCTAVE-based methodology. The reason why is because, they are utilizing solutions that will address the total nature of the threat in comparison with the others. For any kind of organization, this helps them to understand what kinds of issues that they could be facing and the impact that it will have on the entity itself. At the same time, it
S. DHS "Strategic Plan," 2008, http://www.dhs.gov/xabout/strategicplan/) Realistically acts of terrorism, domestic or foreign are exceedingly rare, though slightly more common than they have been in the past and at least marginally more violent in nature, they occur very, very rarely. (Lewis, 2000, p. 201) Though maintaining serious preparedness the mitigation of natural disasters, most which cannot be avoided is an issue needed to be addressed almost yearly, on both small