1000+ documents containing “risk management”.
The objective of this study is to discuss the role and nature of organizational risk management in justice and security organizations and why it is so important. The following will be addressed in the assessment; (1) risk planning and resource identification; (2) management of risk in justice and security organizations; (3) costs associated in managing risk; (4) consequences of failing to manage risk; and benefits; and (5) benefits a properly performed risk analysis has for management and key stakeholders.
Risk management planning involves the consideration of a strategy for managing risk and responsibilities related to assessing, responding, and mitigating risk as well as contingency planning, tracking and reporting. Risk is reported to be defined as an event that is very likely to occur and that would either positively or negatively impact a project if and when that risk did occur. (National Disaster Medical System, nd, paraphrased) Managing risk involves….
Enhancing the Delivery of Justice and Security (2013) OECD. Retrieved from: http://www.oecd.org/development/incaf/38434642.pdf
Reiss, CL (2013) Risk Mitigation and Planning (2013) Office of International Programs. U.S. Department of Transportation of Federal Highway Administration. Retrieved from: http://international.fhwa.dot.gov/riskassess/risk_hcm06_05.cfm
Risk Analysis and Contingency Planning In the context of policy & decision-making (nd) EasyPol. FAO Policy Learning Program: Specific Policy Issues: Risk Analysis and Contingency Planning. Retrieved from: http://www.fao.org/docs/up/easypol/788/risk_analysis_and_contingency_plan_slides_079en.pdf
Risk Management Plan (nd) National Disaster Management System. Retrieved from: http://www.phe.gov/about/amcg/toolkit/Documents/risk-management.pdf
The action levels will include all the levels of risk determination and mitigation involved. First, the process would have to be initiated by means of defining potential problems. A risk management team would be brought into being in order to determine the specific risks involved. The quality inspector will lead the team, and be responsible for obtaining data of aircraft using our part.
In terms of the teams working on the manufacturing floor, I will appoint a personnel manager to ensure communication between employees and management. This communication process is to ensure that personnel have a way of communicate their problems regarding work load or other problems. Furthermore, personnel are also to report problems with manufacturing to the personnel manager. These are to be logged and communicated to the risk management team. The personnel manager and risk management team should then coordinate in the other steps of risk mitigation, including the….
Integrated Emergency Planning
An Emergency Risk Management Plan for a Large Supermarket in the UK
Emergency Planning in the UK
Risk Identification and Qualification
Risk Identification Table
Risk Qualification Matrix
Disaster Management Plan
Situation Mapping of Hazards, Vulnerabilities and Impact
Communication Management Plan
This emergency management plan has been created for a large independent supermarket chain in the UK. The supermarket is comprised of six locations in total and all of the facilities have petrol facilities at each of the locations as well. Besides the locations themselves, the retail operation is entirely dependent on a well-developed supply chain in order to provide consumers with fresh food, supplies, and petrol. Therefore to maintain any level of operations, the entire supply chain and emergency supplier alternatives must be considered as well in this emergency management plan.
1.1 Emergency Planning in the UK
The UK represents a modern society with an economy that is heavily dependent on….
Eguchi, R. et al., 1997. Real-Time Loss Estimation as Emergency Response Decision Support System. Earthquake Spectra, 13(4), pp. 815-831.
Wood, Z., 2008. Supermarkets' emergency plans to keep shelves full. [Online]
Available at: http://www.guardian.co.uk/business/2008/dec/14/retail-supermarkets-suppliers-credit-crunch [Accessed 21 August 2012].
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 provides a workable formula that can be continually utilized through the various checklists and procedures that they have established. When you put these different elements together, they are illustrating how this kind of approach will help an organization to be able to effectively deal with a variety of threats. While allowing them to: effectively train personnel to understand the overall nature of what is taking place and how to quickly adjust to changes that are occurring. This is the point….
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….
Project management is a practical and academic field of growing importance as deadlines in the business world grow ever more rushed and profit margins grow ever slimmer. The need to maintain tight efficiency and cost control over all elements of a project is quite strong and growing stronger as competition in most industries grows more fierce, and this is exactly why project management is so increasingly useful. It is by establishing certain parameters and ensuring that they are adhered to throughout the different phases of a given project that effective project management enables controls over costs and timelines in a manner that increases profitability and minimizes risk exposure to the project's stakeholders.
isk Management in Project Management
In the context of project management, risk management refers to determining the potentials and uncertainties of all possible courses of action, quantifying these risks and their effects in some manner, monitoring the emergence and/or….
PMIS. (2001). Buffering against risk. Accessed 2 December 2010. http://www.focusedperformance.com/articles/bufrisk.html
Project Perfect. (2000). Risk management basics. Accessed 2 December 2010. http://www.projectperfect.com.au/info_risk_mgmt.php
Tusler, R. (1996). Project risk management. Accessed 2 December 2010. http://www.netcomuk.co.uk/~rtusler/project/riskwhen.html
WNR. (2010). U.S. oil spill panel urges increased safety steps. World News Report. Accessed 2 December 2010. http://www.einnews.com/unitedstates/newsfeed-united-states-risk-management
Financial derivatives are an innovation in the field of finance that enable us to understand, measure and manage our financial risks. The definition of financial derivative according to the textbooks is of a financial instrument, and the value of any financial derivative is based on the value or values of the underlying securities or groups of securities that constitute the derivative. It can be said that there have been three main reasons for the continuously increasing use of derivatives now. These are the volatility of the markets, deregulation and development of technologies. There are also many shapes of financial derivatives, and options are just one form. As is clear from the name 'derivative', the items are just contracts based on or derived from some underlying asset, reference rate or index. The common types of financial derivatives are any one, or a combination of four separate types of dealings which….
Brief Guide to Financial Derivatives" Retrieved at http://www.psc.state.pa.us/capital/derivatives.html . Accessed on August 7, 2004
Bacha, Obiyathullah Ismath (1998)"Derivative Instruments and Islamic Finance: Some Thoughts for a Reconsideration" International Journal of Islamic Financial Services; Volume: 1 Number.1, pp: 34-38
Comptroller's Handbook. (January, 1997) "Risk Management of Financial Derivatives"
Financial Derivatives" (March 19, 1999) Remarks by Chairman Alan Greenspan before the Futures Industry Association, Boca Raton, Florida. Retrieved at http://www.federalreserve.gov/boarddocs/speeches/1999/19990319.htm . Accessed on August 7, 2004
(Smith, 2003) Checking twice, or more than twice may be less important than securing a diversity of views in such an arena. (Smith, 2003)
The ability adequately communicate risk levels amongst providers can become difficult. Also, hasty words can create a misperception in the minds of patients, if a doctor speaks too casually. "Science cannot prove a negative, but, where their children are concerned, parents want to be assured that risk is zero," and it is tempting for doctors to ignore communicating data, for fear of communication the issue. Some suggest, regarding all procedures, establishing a comprehensive 'Richter scale' of risks to communicate data to remove the potential for misunderstanding -- for example, identifying the riskiest scenarios, and flagging them for hospital staff, or using the 'pain scale' amongst all hospital staff and on paperwork of 1-10 to communicate how much pain a patient is in, on a feeling level,….
Bellaby, Paul. (27 Sept 2003) "Communication and Miscommunication." British Medical Journal. 327:725-728. Retrieved on 22 Aug 2005 at http://bmj.bmjjournals.com/cgi/content/full/bmj;327/7417/725
New York Presbyterian. (2005) "Mission Statement." Official Website Retrieved on 22 Aug 2005 at http://www.nyp.org/about/mission.html?name1=Leading+the+Way&type1=2Select&name2=Mission&type2=3Active
Risk Management Worksheet." (2005) Official Website Retrieved on 22 Aug 2005 at http://www.med.cornell.edu/research/pdf/contracts/mtarform-in.pdf
Robert Wood Johnson. (2005) "Patient Safety." Official Website Retrieved on 22 Aug 2005 at http://www.rwjuh.edu/medserv/patientsafety.html
A Vital Component in the Governance of Health Care Institutions
isk exists in any endeavor. Many people drive every day risking a traffic collision, others live in areas where the risk of spring tornados is extreme, and still other people work around high power electric lines. The question to ask is how can a person moderate the risks that they face each day? Make sure that the vehicle is performing to its optimal capabilities and that driving is undistracted and intentional. Make sure that a safe place exists nearby to go in the event of dangerous weather. Follow all of the safety regulations that go with the job of an electric company lineman. Basically people need to be alert and responsive to the situations that present themselves. Individuals must also understand that they have taken care of all but the most unforeseen eventualities (such as making sure the car one….
Adams, R.J. (2010). Improving health outcomes with better patient understanding and education. Risk Management and Healthcare Policy, 3.
Ethics Point. (2010). Healthcare risk management takes a broader perspective. Retrieved February 23, 2011 from http://www.ethicspoint.com/Upload/Articles/Whitepaper_Healthcare_Risk_Manag ement.pdf
Kuhn, A.M. & Youngberg, B.J. (2002). The need for risk management to evolve to assure a culture of safety. Quality Healthcare. 158-162.
Miller, J. (2010). The definition of risk management in health care. Retrieved February 24, 2011 from http://www.ehow.com/about_6619711_definition-risk- management-health-care.html
isk Management and Insurance
What is isk Management and why is it important in Business Today? One must first define for oneself the meaning of risk, not only relative to his own life but to his business and financial future. In defining the types of risk, pure or speculative, one will then need to determine the level of risk and uncertainty one is willing to endure to achieve ones ultimate goal. After having answered these primary concerns and depending upon the type of business and style of management being practiced, the risk-taker might decide to create a risk management plan that best suites the business and personal limitations discovered. "The management of risk is a process distinct from its measurement. It involves a set of institutional rules that are largely dependent on (set of) goals." (Focardi & Jonas, pg. 95, 1998).
In the management of risk one may also decide that a….
Bremen, M. (1998). Currency Risk Management for Firms and Financial Institutions.
The Netherlands: Tilburg University Press.
Brisbin, R.E. (1990). Loss Control for the Small to Medium Size Business: Reducing Workers' Compensations Costs. New York: Reinhold.
Chapman, C. And Ward, S. (2002. Project Risk and Uncertainty: A Constructively Simple Approach to Decision Making. West Sussex: Joh Wiley & Sons.
The reason why it is important to understand the role of the financial markets is: because of globalization. As, this has caused shifts in: the economy and the way people are interacting with each other. One way to effectively comprehend what is taking place is with, the indices reflecting how these transformations are impacting the world economy. This means that ordinary people need to have an: understanding of the markets and the way they are reacting to various events. This will help them to determine, what will occur in the economy over the next nine months to one year. As, prudent individuals can begin to plan on: profiting from these changes or they could protect their assets. In either case, understanding the markets in this aspect will help everyone to more effectively prepare for uncertainties. This is how you can be able to increase your net worth and protect….
Binomial Option. (2011). Investopedia. Retrieved from: http://www.investopedia.com/terms/b/binomialoptionpricing.asp
Put Call Parity. (1996). Risk Glossary. Retrieved from: http://www.riskglossary.com/link/put_call_parity.htm
Larson, M. (2009). Big Money, Less Risk. Columbia, MD: Marketplace Books.
The SMAT-a solution is characterized by the following:
The formal assessment of the risks through the employment of the ISO 27005 standards and the OCTAVE techniques
The systematic assessment of the risk through the PDCA model (plan, do, check, act)
The automated risk assessment through the Fast a feature, which "provides fully automated risk assessment with a built in database of standard assets, threats, vulnerabilities and controls" (Website of SMAT-A)
The creation of detailed reports such as multi-criterion filtering or exports to other formats
The monitoring of risks through the monitoring of risk mitigation controls and the identification of the new risks after mitigation (Website of SMAT-A).
Last, the third potential solution to automating the IT risk assessment is represented by the Symantec isk Automation Suite (SAS), which is also a privately developed solution, characterized by more flexibility and ease of usage.
"SAS automates and orchestrates enterprise IT security and risk management. SAS simplifies and integrates….
Coderre, D., 2009, Internal audit: efficiency through automation, John Wiley and Sons
Automated risk management using NIST standards, ACR 2 Solutions, http://www.acr2solutions.com/Documents/Automating_Risk_Management.pdflast accessed on July 10, 2012
Risk assessment, Website of SMART-RA, http://www.smart-ra.com/riskassessment.aspxlast accessed on July 10, 2012
Symantec Risk Automation Suite, Website of Symantec, http://www.symantec.com/risk-automation-suitelast accessed on July 10, 2012
The six major processes involved in risk management are planning risk management, identifying risks, performing qualitative risk analysis, performing quantitative risk analysis, planning risk responses and actually controlling risk. One might argue that the two most important of these processes are the first and the last ones -- the planning of risk management and the controlling of risk once it actually occurs and becomes a threat to a particular enterprise. Nonetheless, planning risk management has a preeminence associated with it for the simple fact that in this initial step, the vast majority of the other steps are considered. During the planning stage, organizations are essentially determining what sorts of risks they are susceptible to and how, how great a risk these things are to the organization, and how they will respond and ultimately mitigate or control the risk. The best example of this step is an organization that has….
Numerous products are available, including currency or exchange rate swaps, forward contracts, futures and options. Another option, which covers some of the translation risk as well, is to index costs and revenues to the exchange rate. Translation risk is more difficult to address, but there are methods. DI can build an operational hedge, whereby inflows from a particular country are matched by outflows. Other tactics, such as using an average exchange rate for the entire income statement or balance sheet, can mitigate the risk but not eliminate it.
Economic risk is a significant form of risk because many of DI's industries are cyclical. This risk is less critical for DI because the company is well-diversified across many industries and countries. This is an operational hedge against the impacts of a faltering economy against any one of our businesses. However, some economic risk still remains. It can be hedged by establishing….
Moore, Howard L. (1999). "Hedging Political Risk" Global Finance. Retrieved November 21, 2008 at http://findarticles.com/p/articles/mi_qa3715/is_199909/ai_n8870125
Francis, Rob. (2002). "Growing Natural Hedges" Frontier Economics. Retrieved November 21, 2008 at http://www.frontier-economics.com/_library/publications/frontier%20bulletin%20-%20growing%20natural%20hedges.pdf
Gray, Philip & Irwin, Timothy. (2003) "Exchange Rate Risk" World Bank. Retrieved November 21, 2008 at http://rru.worldbank.org/Documents/PublicPolicyJournal/266Gray-121203.pdf
isk Management Programs Comparison
There are so many potential risks in hospital and HMO settings because of the nature of healthcare. Hospitals have a ton of regulatory laws to follow that are passed by federal, state, and local legal agencies. HMOs are health management organizations, which are smaller groups that aim to provide healthcare and insurance options for individuals who subscribe to their services and thus have similar risk factors to general hospitals. Federal agencies like the Centers for Medicare and Medicaid Services (CMS), the FDA, the Office of Inspector General (OIG) and the Department of Justice are all involved with constantly updating hospitals and other healthcare organizations, like HMO facilities, of the need to stay on top of various risks. Agencies like the FDA establish laws, while the Department of Justice provide a list of healthcare professionals who have committed crimes, "announces penalties, fines, and Corporate Integrity Agreements imposed on….
Dinatale, Paola & Granger, Brad. (2010). Demysify risk management in nursing homes. McKnight's Long-term Care News. Web. http://www.mcknights.com/demystify-risk-management-in-nursing-homes/article/164835/
Moran, Bill. (2008). Hospital risk management program: Ten risk categories for the four-step process. Strategic Management. Web. http://www.compliance.com/articles/hospital-regulatory-risk-management-ten-risk-categories-to-use-during-the-four-step-process/
Business - Management
Risk Management The objective of this study is to discuss the role and nature of organizational risk management in justice and security organizations and why it is so important. The…Read Full Paper ❯
Business - Management
3. The action levels will include all the levels of risk determination and mitigation involved. First, the process would have to be initiated by means of defining potential problems. A…Read Full Paper ❯
Business - Management
Risk Management Integrated Emergency Planning An Emergency Risk Management Plan for a Large Supermarket in the UK Emergency Planning in the UK Risk Identification and Qualification PESTEL Framework Risk Identification Table Risk Qualification Matrix Risk Quantification Disaster Management…Read Full Paper ❯
Business - Management
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…Read Full Paper ❯
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…Read Full Paper ❯
Business - Management
isk Management Project management is a practical and academic field of growing importance as deadlines in the business world grow ever more rushed and profit margins grow ever slimmer. The…Read Full Paper ❯
isk Management Financial derivatives are an innovation in the field of finance that enable us to understand, measure and manage our financial risks. The definition of financial derivative according to…Read Full Paper ❯
(Smith, 2003) Checking twice, or more than twice may be less important than securing a diversity of views in such an arena. (Smith, 2003) The ability adequately communicate risk…Read Full Paper ❯
isk Management A Vital Component in the Governance of Health Care Institutions isk exists in any endeavor. Many people drive every day risking a traffic collision, others live in areas where…Read Full Paper ❯
isk Management and Insurance What is isk Management and why is it important in Business Today? One must first define for oneself the meaning of risk, not only relative to…Read Full Paper ❯
Risk Management CSLO The reason why it is important to understand the role of the financial markets is: because of globalization. As, this has caused shifts in: the economy and the…Read Full Paper ❯
Education - Computers
The SMAT-a solution is characterized by the following: The formal assessment of the risks through the employment of the ISO 27005 standards and the OCTAVE techniques The systematic assessment of…Read Full Paper ❯
Risk Management The six major processes involved in risk management are planning risk management, identifying risks, performing qualitative risk analysis, performing quantitative risk analysis, planning risk responses and actually controlling…Read Full Paper ❯
Numerous products are available, including currency or exchange rate swaps, forward contracts, futures and options. Another option, which covers some of the translation risk as well, is to…Read Full Paper ❯
isk Management Programs Comparison There are so many potential risks in hospital and HMO settings because of the nature of healthcare. Hospitals have a ton of regulatory laws to follow…Read Full Paper ❯