Risk Management Plan
BSBMGT609A Manage Risk – Case Study Assessment
RISK MANAGEMENT PLAN
FOR ENV
Table of Contents
1. INTRODUCTION 3
1.1 Purpose Of This Document 3
2. CONTEXT AND BACKGROUND 3
2.1 What Is Risk Management? 3
3. RISK MANAGEMENT AT ENV 4
3.1 Overview of the Organisation’s Risk Management Process 4
4. RISK MATRIX 5
4.1 Explanatory of Likelihood and Consequences 6
4.1A Likelihood Scale Definition 6
4.1B Consequences Scale Definition 6
5. RISK REGISTER 7
6. SWOT ANALYSIS 8
7. RISK TREATMENT PLAN 9
8. MONITORING AND REVIEWING 11
Continuous monitoring 11
Line management review 11
Audit 11
9. DISCLAIMER 12
1. INTRODUCTION
1.1 Purpose Of This Document
The purpose of this document is to set out a plan for ensuring that Risk Management is considered and included in the business and operations of Edgeware National Valuers (ENV) and to provide guidelines for its implementation.
2. CONTEXT AND BACKGROUND
2.1 What Is Risk Management?
Risk is usually defined as an assessment of the possibility of some adverse event occurring and the likely consequences of this event. Risk is inherent in valuation of Edgeware National Valuers. As the consequences of an adverse event may include damage with client relationships, loss of reputation, financial loss, organisational or political embarrassment, operational disruption, legal problems, and so forth, it is important that management policies, procedures and practices are in place to minimise ENV’s exposure to risk.
Risk Management involves adopting and applying a systematic process to identify, analyse, assess, control and monitor risk so that it is reduced and maintained within an acceptable level. Risk Management is a business tool in valuation and part of good management and good planning process.
3. RISK MANAGEMENT AT ENV
3.1 Overview of the Organisation’s Risk Management Process
Risk Management is the
RISK MANAGEMENT PLAN
FOR ENV
Table of Contents
1. INTRODUCTION 3
1.1 Purpose Of This Document 3
2. CONTEXT AND BACKGROUND 3
2.1 What Is Risk Management? 3
3. RISK MANAGEMENT AT ENV 4
3.1 Overview of the Organisation’s Risk Management Process 4
4. RISK MATRIX 5
4.1 Explanatory of Likelihood and Consequences 6
4.1A Likelihood Scale Definition 6
4.1B Consequences Scale Definition 6
5. RISK REGISTER 7
6. SWOT ANALYSIS 8
7. RISK TREATMENT PLAN 9
8. MONITORING AND REVIEWING 11
Continuous monitoring 11
Line management review 11
Audit 11
9. DISCLAIMER 12
1. INTRODUCTION
1.1 Purpose Of This Document
The purpose of this document is to set out a plan for ensuring that Risk Management is considered and included in the business and operations of Edgeware National Valuers (ENV) and to provide guidelines for its implementation.
2. CONTEXT AND BACKGROUND
2.1 What Is Risk Management?
Risk is usually defined as an assessment of the possibility of some adverse event occurring and the likely consequences of this event. Risk is inherent in valuation of Edgeware National Valuers. As the consequences of an adverse event may include damage with client relationships, loss of reputation, financial loss, organisational or political embarrassment, operational disruption, legal problems, and so forth, it is important that management policies, procedures and practices are in place to minimise ENV’s exposure to risk.
Risk Management involves adopting and applying a systematic process to identify, analyse, assess, control and monitor risk so that it is reduced and maintained within an acceptable level. Risk Management is a business tool in valuation and part of good management and good planning process.
3. RISK MANAGEMENT AT ENV
3.1 Overview of the Organisation’s Risk Management Process
Risk Management is the