A Risk Management Plan is a Systematic Approach - Management Assignment Help

Assignment Task:

Task:

Hello, I am Rishika Sabharwal. I am studying in college of the rockies which is in Cranbrook, British Columbia, Canada. So, if you will provide any examples, the examples should be of Canada or Canadian laws. Please help me with this assignment.

The assignment details are below:
General instructions:
Assignment should be in APA format
It should include all in text citations and references
It should be made in 3 parts and 1st part should include OPERATIONAL DESCRIPTION and OBJECTIVES/PHILOSOPHY. Part 2 should include RISK IDENTIFICATION & ANALYSIS, RISK CONTROL and RISK FINANCING. Part 3 should include FORMS/APPENDICES, ADHERENCE TO STATUTE LAW REQUIREMENTS and FORMATTING/PROFESSIONALISM/GRAMMAR/CITATIONS.
It should also contain a Title Page, Table of content, page numbers, and an absence of spelling/grammatical errors.  All sources for specific, unique information should be listed on a 'Reference' page.
Risk Management Plan Assignment
Risk Management Plan Description (Instructions)

WHAT IS A RISK MANAGEMENT PLAN?
The answer to this varies depending on the operation you are completing the plan for.  In essence, a Risk Management Plan is a systematic approach that analyses the risks that the operation faces, and outlines the steps that it will take to address these risks.  Over the course, we will walk you through the steps of risk analysis, and expose you to a variety of steps to mitigate risk.  We are confident that by the time you fully launch into this assignment, you will have an excellent grasp of what is required.
 

ASSIGNMENT PARAMETERS
You will complete this project individually.  It is submitted at three different intervals during the course.  Part 1 - Sections 1 & 2, Part 2 - Sections 3 - 5, and Part 3 - Sections 6 - 8.
 

ELEMENTS OF A RISK MANAGEMENT PLAN
1.  OPERATIONAL DESCRIPTION
A description of the operation that the RM Plan is for.  It can be a fictional or real business.  This should include descriptors of its operation, logistics, location, staffing, history, and any other pertinent information.         
This section should set the context for a reader not familiar with your operation (i.e lawyer, insurance broker).  It is not marketing content, so don't talk about how great your company is, but describe clearly what your operation is as per above.                                                                                                                                                                                                                                                                      
Value: 7.5%
2..OBJECTIVES/PHILOSOPHY
A statement of rationale for the document.  Why is this plan being developed?  Why is it necessary? 
The deliverable for this discusses the need for a RM Plan for the operation - is it exposed to risk through it's adventure operation?  What types of risk (bodily/physical/financial/emotional, etc) is it exposed to? I.e. This rafting operation offers activities that 
A ‘risk statement’ that outlines how the operation looks at risk – are you accepting of it, wary of it?  What do you consider acceptable risk, and what to you consider unacceptable?
The deliverable for this outlines the operation's philosophy of risk - as an operation, you may decide that you will only accept risks that are essential to the operation and the activity (inherent), and will work to lower exposure/avoid completely any reckless risks.  You all may decide to keep a high level of 'perceived risk' while adjusting your activities on the statistical (real) risks.
This section should define for the reader your risk management objectives - the drive behind them.
Approximately 4-5 clear, unequivocal risk management objectives that describe what your operation is doing with regards to risk management. i.e - see examples below. 
Protect Employees from bodily/emotional harm
Minimize the potential of accidents from occurring
Provide protection from lawsuits..  
Value:  7.5%
 

3.  RISK IDENTIFICATION & ANALYSIS
A thorough listing of all risks the operation potentially faces; include aspects from bodily, material, financial, and emotional types of risk.  Also include the concepts of inherent/perceived risks.
An in-depth analysis of the risks faced utilizing the equation RISK = PROBABILITY X CONSEQUENCE. This can be in the form of a chart.  
The chart should have four columns (hazard, frequency, severity, rating). Each column should have a scale/justification to rate it's scoring system. The Chart should identify at least 15 distinct hazards.         
Evaluate each hazard in relation to probability (frequency) and consequences (severity of loss) - i.e give a score!
Try to be comprehensive and avoid focusing on one type of hazard.   Categories of hazards also work.
The end result of this section is that risks should have been identified and analyzed - so you can decide how to mitigate them.                                                               
Value:  5%                                                                 
 

4. RISK CONTROL
This is a discussion about mitigation, set out how you would approach dealing with each hazard. 
State whether and to what extent you would avoid exposure to that risk and/or how you would reduce the severity for a potential accident.  Apply the concepts of risk control (exposure avoidance/loss reduction) to mitigate all the risks you have identified.  These measures may be preventative or control oriented.
It's not enough to say you are going to minimize risk - you must show how!  
You may be referring to tools that are in the forms/appendices section - so in that case it's effective to refer to that section.
The end result of this section is that readers should be able to see how you have controlled the risks identified.
Value: 5%
 

5.  RISK FINANCING                
This is a further discussion about mitigation
This involves financing risks remaining after you have applied RISK CONTROL
RISK RETENTION is the retention of risk that cannot be prevented with risk control or risk transfer
RISK TRANSFER TO INSURANCE such as fire, theft, medical, liability etc.
RISK TRANSFER VIA CONTRACT is the use of contracts to transfer the risk of certain types of losses. This could be a third party, or a client. Eg. Rental agreements, waivers, worker contracts
RISK TRANSFER VIA VOLENTI is a way to transfer risk of losses to clients by making them aware of risks and agree to participate and assume the risks. Eg. Pretrip information, marketing materials, warnings and waivers.
Value: 5%
 

6. FORMS/APPENDICES
Industry Organization Operational Requirements - What certifying bodies are you following, and what operational requirements/guide ratios/procedures do they require you to follow? (i.e ACMG, Ratio of 1:6 for Challenging Terrain for Ski Touring, etc).
Policies – should be policies for staff and for clients/participants.  Come up with a one-pager for each.                      
Waivers – Adapt a waiver to suit your business. Give credit for your source.                                                                                                                   
Emergency Communications Systems - Describe what emergency communication systems do you utilize and what procedures are associated with this? (I.e - when/how to use - one pager)
Incident Response Forms –  Adapt one from your particular industry or look for a better example on the web.
Include a list of guidelines for dealing with the media (one pager)
Draft a safety talk outline for your operation (basic components - not fully written - one pager).                                                                                                          
Contact List - for your operation (in-house), and external resources (emergency, evacuation, etc).
Value: 10%
 

7. ADHERENCE TO STATUTE LAW REQUIREMENTS
Develop a listing of the most relevant (five minimum) statutes that impact your operation, including a brief statement on how you intend to adhere to EACH ONE of them
Value: 10%

8. FORMATTING/PROFESSIONALISM/GRAMMAR/CITATIONS - This assignment must be completed in APA format.
This document is not a english essay or a marketing piece.  It is a concise document that can be read by an outside party so that they can understand your risk management process (likely an insurer or industry partner), or reviewed after an accident to find fault for an accident that occurred (RM/Legal investigation).  
As such, it should be concise (but very detailed in other ways), be formatted professionally, and should be easy to find certain sections i.e numbered sections.  It should also contain a Title Page, TOC, page numbers, and an absence of spelling/grammatical errors.  All sources for specific, unique information should be listed on a 'Reference' page.
Value This section will be weighted to reflect 20% of the value of each of the three sections of your assigment

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