You are required to develop a risk management plan for a company of your choice, or for an area of the Registered Training Organisation in which you are studying. Your risk management plan must include:
- a detailed stakeholder analysis;
- explanation of the risk context;
- critical success factors;
- identified and analysed risks;
- treatments for prioritised risk;
- details of the monitoring arrangements; and
- an evaluation of the risk managements plan efficiency in treating risks
- all required forms for implementation within a workplace (to be developed by you) Your evaluation of risks must include
- considering the likelihood of the risk occurring
- considering the impact of the risk
- determining which risks are most significant and are therefore priorities for treatment Your action plans should include
- what actions are required
- who is taking responsibility
- time lines
- monitoring processes
Your risks may include those relating to:
- commercial relationships
- economic circumstances and scenarios
- human behaviour
- individual activities
- legislation
- management activities and controls
- natural events
- political circumstances
- technology