What is the General Objective of your Risk Management Plan - Management Assignment Help

Assignment Task:

Task:

General Objective

• What is the general objective of your Risk Management Plan: what are you trying to achieve?}
• Legislation/code of practice and national standards
• (include a minimum of 5 pieces of either legislation/code of practices or national standards relevant to your RMP)
• The context of the plan:
• (include your comments on the below relevant contexts): tip: check out the context article on elearn
• Context Issues to consider Possible effect
• Political Example answers may include the following.
• The government currently in power is trying to limit the importing of goods from China. They are investing in local manufacturers and local small business.
• This would affect the gift shop that relies on Chinese exports for their stock. The garden centre would need to find local suppliers with similar prices. This may affect the profit margins for the gift shop.
• Economic The economy is in a period of growth. The business in New South Wales is consistently performing well and has made a profit for the past three years.
• The economy is expected to slow down which will impact on the busines
• Social There has been a real shift towards sustainable products and concern for using environmentally safe products.
• This may affect the types of products that need to be ordered.

• Legal New regulations to take effect next year.
• May face fines if regulations are not followed and adhered to.
• Technological Currently upgrading all computers and equipment in head office due to outdated equipment.
• Some data loss may occur.
• Policy Current work contracts are not in line with the National Employment Standards. As they are not included in the policy, staff could not be disciplined.
• Source: www.didasko.com
• Back ground/history and scope
• {Ask yourself the questions)
• Did anything happen in the past, did any serious incidents happen? Did anything happen that impacted on the business reputation?
• (What is the back ground of the business; to who does the RMP apply to?
• Address in this part the following
• 1.6. What risk management processes, procedures and requirements are currently in place?
• 1.7 What are 2 strengths and 2 weaknesses of the current arrangements?
• 1.8. Describe how you would obtain support for your risk management plan?
• 1.9. Give 2 reasons why this support is important
•  
• Stakeholder list (list minimum 4)
• Stakeholder
• Organisational Details Communication Method(s)
• 2.1 Information they want from you 2.2 Information you want from them 2.3 Method of invitation 2.4
• Bank Consultant
• (example) Westpac branch
• Weston Creek
• Coleman Court shop 5
• Ph;0262877995 corporate plans and strategies
• newsletters
• website
• emails
• meeting
• Phone calls
• Cheques, cash receipts
• Financial plans about major transactions in the predictable future. Risk management plan Approval for financial requests
• Receipts after depositing or withdrawing cash or cheques and regular bank statements Meeting invitation
• 3. Critical success factors (list 4 as per template)
• {Describe the Critical Success Factors (CSFs) which are those factors that need to exist or go right for the Risk Management to succeed; do some research on line to find out}
• Critical Success factors
• 4.SMART Goals and Objectives (use the below template)
• SMART Business objectives/goals key actions required to achieve these objectives/goals How we will measure the success of the objectives/goals By when

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