Mgnt615 Manage Risk - Cultural Assessment Answers
|
Risk Register part 1 – risk identification (Read left to right with Risk Register Part 2) | ||||
|
Risk Reference |
The Risk: Major
What can happen?
A description of the risk |
Source
How can this happen?
Drivers to the risk Contributor or source of the risk |
Impact /Outcome
What will be the outcome or effect, if what can happen does happen?
Impact on the business objectives Impact from the event happening Consequence |
Risk Owner – the officer responsible for managing the risk |
|
Assets |
|
|
|
|
|
Compliance/ regulation |
|
|
|
|
|
People |
|
|
|
|
|
Environment |
|
|
|
|
|
Financial |
|
|
|
|
|
Products and Services |
|
|
|
|
|
Technology |
|
|
|
|
|
Reputation & Image |
|
|
|
|
|
Cultural & Heritage |
|
|
|
|
|
Business Process & Systems |
|
|
|
|
|
Risk Register part 2 – risk assessment, risk evaluation and risk treatment (Continued from Risk Register Part1) | ||||||||||||
|
Risk Reference |
Risk Controls which are currently in place
Major:
This field is for the risk controls that already exist and are currently managing the risk |
Inherent Risk Rating |
Control Effectiveness Rating |
|
|
|
|
| ||||
|
Consequence |
Likelihood |
Inherent Risk Rating |
Consequence |
Likelihood |
Residual Risk Rating | |||||||
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
Compliance/ regulation |
|
|
|
|
|
|
|
|
|
|
|
|
|
People |
|
|
|
|
|
|
|
|
|
|
|
|
|
Environment |
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial |
|
|
|
|
|
|
|
|
|
|
|
|
|
Products and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
Technology |
|
|
|
|
|
|
|
|
|
|
|
|
|
Reputation & Image |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cultural & Heritage |
|
|
|
|
|
|
|
|
|
|
|
|
|
Business Process & Systems |
|
|
|
|
|
|
|
|
|
|
| |
Answer
Risk Register part 1 – risk identification (Read left to right with Risk Register Part 2) | ||||
Risk Reference |
The Risk: MajorWhat can happen?A description of the risk |
SourceHow can this happen?Drivers to the riskContributor or source of the risk |
Impact /OutcomeWhat will be the outcome or effect, if what can happen does happen?Impact on the business objectivesImpact from the event happeningConsequence |
Risk Owner – the officer responsible for managing the risk |
Assets |
Improper facility of cyclical maintenance as well as assets management programs. |
It is found that improper maintenance of assets management program can create problem in managing the assets quite effectively. |
If appropriate assets management program is not developed then it can raise number of challenges in successfully managing the assets that are needed during the event. |
Assest manager |
Compliance/ regulation |
If proper regulation is not followed then it would be quite difficult to host both the indoor as well as outdoor events. |
The main risk contributor is the improper utilization of compliance as well as regulation within the indoor as well as outdoor events. |
Due to improper use of regulation number of legal challenges and issues can occur within the organization. |
HR manager,. |
People |
If appropriate environment is not provided to the people so that they can be able to meet their visitors then it can raise number of issues and challenges. |
The main reason is impropriate refurbishment of the facility that are required to be used by the people. |
If proper environment is not provided then the people will face problem in meeting, relaxing as well as exchanging goods in a proper environment. |
Facility manager/ HR manager |
Environment |
The organization is facing number of challenges in improving the sustainability of the environment which is provided to the customers in order to organize the events.
|
This risk mainly occurs due to absence of environmentally sustainable facility of venue for the customers. |
Due to improper steps in improving the environment sustainability it is very much difficult to provide safe, clean as well as secure environment for organizing the events.
|
Operational manager |
Financial |
EPC does not have proper financial viability which is considered as a key challenge for both the management and board to develop proper sustainable financial plan for the ACT community.
|
The main reason of the risk is the presence of improper financial viability for EPC which is considered as one of the main problem for the management and board of the organization. |
It is found that if the financial viability is not improved then there will be increment in the return of ACT community on the funds which are generally invested at EPIC. |
Finanacial manager |
Products and Services |
It is found that the organization is somewhat rundown as the refurbishment of the facilities are not done properly. |
It is found that the main contributor of the risk is improper refurbishment of the facilities of EPIC. |
If the risks are not managed or the refurbishment of the risks are not done then the number of customers will decrease. |
Operational manager |
Technology |
Due to insufficient technology, EPIC faces challenges in organizing the event. |
It generally occurs as there is insufficiency of technological utilization within the events. |
It generally raises challenges while organizing the events. |
IT manager |
Reputation & Image |
It is found that the organization does not take proper step in maintaining its reputation |
It mainly occurs due to improper involvement of the organization’s staff to involve in the maintenance of the reputation. |
It generally can diminish the reputation and image that the organization has. |
HR. manager |
Cultural & Heritage |
Proper culture and heritage are not followed within by the organization during the arrangement of indoor and outdoor events. |
It is found that absence of proper culture is mainly due to presence of improper steps for maintaining the heritage and culture of EPIC. |
Due to improper culture, the organization faces difficulty in achieving the goals as well as objectives of the organization successfully. |
Culture nad heritage manager. |
Business Process & Systems |
The organization “EPC” faces comprehensive issues in attracting major number of events due to the absence of effective as well comprehensive marketing strategies as well as the pricing policies that are mainly designed for attracting new business. |
This risk generally occurs due to the absence of proper as well as comprehensive marketing strategy as well as pricing policies that are generally designed for attracting the new business. |
If the risks are not resolved then the business of EPC will face number of issues and challenges in attracting diverse range of the events which generally can minimize the number of customers. |
Marketing manager. |
Risk Register part 2 – risk assessment, risk evaluation and risk treatment (Continued from Risk Register Part1) | ||||||||||||
Risk Reference |
Risk Controls which are currently in placeMajor:This field is for the risk controls that already exist and are currently managing the risk |
InherentRisk Rating |
Control Effectiveness Rating |
|
|
|
|
| ||||
Consequence |
Likelihood |
Inherent Risk Rating |
Consequence |
Likelihood |
Residual Risk Rating | |||||||
Assets |
It is quite necessary to implement proper facility of cyclical maintenance as well as assets management programs. |
High |
Medium |
Medium |
Medium |
|
|
Medium |
Medium |
Medium |
|
|
Compliance/ regulation |
It is quite necessary for the organization EPIC to follow proper compliances as well as regulations while conducting the event.
|
High |
High |
High |
High |
|
|
High |
Medium |
Medium |
|
|
People |
It is quite necessary to develop proper environment for the people so that they can be able to meet with the visitors quite easily.
|
High |
High |
High |
High |
|
|
High |
Medium |
Medium |
|
|
Environment |
It is very much necessary to improve the environment of EPIC sustainably in order to provide the facility of organizing the events. |
Medium |
Medium |
Medium |
Medium |
|
|
Medium |
Medium |
Medium |
|
|
Financial |
It is found that to manage the risks, it is very much necessary to improve the long term financial viability of EPC. |
High |
High |
High |
Medium |
|
|
High |
High |
High |
|
|
Products and Services |
It is very much necessary to undertake refurbishment of the facilities so that proper facilities can be provided to the customers of the organization. |
High |
Medium |
High |
Medium |
|
|
High |
Medium |
High |
|
|
Technology |
It is quite necessary to focus on technological development to resolve the risks and challenges |
High |
High |
High |
High |
|
|
High |
High |
High |
|
|
Reputation & Image |
It is quite necessary for the staffs to involve in the maintenance of reputation as well as image. |
Medium |
Medium |
Medium |
Medium |
|
|
Medium |
Medium |
Medium |
|
|
Cultural & Heritage |
Proper culture should be developed for resolving the risks and challenges and for achieving the goals and objectives of EPIC. |
High |
High |
High |
Medium |
|
Medium |
Medium |
Medium |
|
|
|
Business Process & Systems |
It is found that in order to resolve the challenges and issues, it is very much necessary to improve effective as well as strategy comprehensive marketing strategy as well as pricing related policies that are generally designed for attracting the new business and for maintaining the long term relationships with the various clients in order to promote number of activities. |
Medium |
Medium |
Medium |
Medium |
|
|
Medium |
Medium |
Medium |
|
|
Reference:
Cagliano, A.C., Grimaldi, S. and Rafele, C., 2015. Choosing project risk management techniques. A theoretical framework. Journal of Risk Research, 18(2), pp.232-248.
Heldman, K., 2018. PMP: project management professional exam study guide. John Wiley & Sons.
Hornstein, H.A., 2015. The integration of project management and organizational change management is now a necessity. International Journal of Project Management, 33(2), pp.291-298.
Kaiser, M.G., El Arbi, F. and Ahlemann, F., 2015. Successful project portfolio management beyond project selection techniques: Understanding the role of structural alignment. International Journal of Project Management, 33(1), pp.126-139.
Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach
Muriana, C. and Vizzini, G., 2017. Project risk management: A deterministic quantitative technique for assessment and mitigation. International Journal of Project Management, 35(3), pp.320-340
Paquin, J.P., Gauthier, C. and Morin, P.P., 2016. The downside risk of project portfolios: The impact of capital investment projects and the value of project efficiency and project risk management programmes. International Journal of Project Management, 34(8), pp.1460-1470.
Buy Mgnt615 Manage Risk - Cultural Assessment Answers Online
Talk to our expert to get the help with Mgnt615 Manage Risk - Cultural Assessment Answers to complete your assessment on time and boost your grades now
The main aim/motive of the management assignment help services is to get connect with a greater number of students, and effectively help, and support them in getting completing their assignments the students also get find this a wonderful opportunity where they could effectively learn more about their topics, as the experts also have the best team members with them in which all the members effectively support each other to get complete their diploma assignments. They complete the assessments of the students in an appropriate manner and deliver them back to the students before the due date of the assignment so that the students could timely submit this, and can score higher marks. The experts of the assignment help services at urgenthomework.com are so much skilled, capable, talented, and experienced in their field of programming homework help writing assignments, so, for this, they can effectively write the best economics assignment help services.
