- Scenario
Your task is to develop a risk management proposal for a specific industry. The industry can be one that you are currently working for or an industry of your interest. The industry can produce products, provide a service, be a utility company, a government authority, construction/civil, IT, an educational institution, basically any company or industry that you have a specific interest in or work for.
As an employee of the company and in a supervisory role you have been asked to provide a ‘proposal’ for a Risk Management Plan covering a new product, service and/or project. The proposal is to be presented to the Company Executives, at their monthly meeting on 13 October 2014.
Description
Marks out of
Weighting
Due date
Assignment 2
500
50%
13 October 2014
Assessment elements
Marks
Written report
400
Written communication and presentation

100

Requirements
Written report
You are required to develop a report containing:
1. A profile of the Company / Industry selected for this task. The profile should state the company / industry, what they actually do, such as products or services. This section of the report should be titled The Company Profile and be a maximum of 2 pages.
2. A brief business case addressing the following:
The feasibility of a risk study (brief summary of major reasons for the
proposal)
Terms of reference for the proposal (what must be carried out by the risk
management team. These terms of reference should discuss the background, specify the scope of the activities, and state the main motives for the proposal and the questions asked. They sum up available knowledge and outline evaluation methods and the distribution of work, schedule and the responsibilities among the people participating in a process. Keep the statements brief. Keep in mind this is a presentation by you to the company executives
Project team (who should be members of the working risk management team specific for your industry)
3. The risks specifically related to your company (or industry), and its products and/or services, which are anything likely to adversely affect the company’s objectives (such as specification, requirements, benefits, schedules, budgets, deliverables, just to give you a few examples). Remember that your list should be representative of your industry.
4. An assessment of each risk's likelihood and consequence in terms of: Low
Medium High
Very high
and a ranking based on a semi-quantitative approach.
5. Assigned priorities for the risks (risk evaluation). How you present this is how you will convince the executives of the company that your Risk Management Proposal should be approved.
6. A description of your proposed risk management process including the following areas:
The steps you plan on taking in your risk management plan (what you and the team will do)
Any rules and responsibilities required to carry out the proposal such as how to identify, how to do the review of each risk, and how to assign risk actions for risk minimization.
7. A list of each of the risk management documents that you will develop as part of the process. You must explain the purpose and content of each document.
As part your assignment you must list any resources that were used in formulating your proposal (appropriately referenced). As you are developing the proposal for the executive team of the company, the maximum pages for the proposal is TEN so it is important to present your proposal in a concise, easy to follow, well organized format. There is no specific template to how you develop the proposal as it will vary depending on the industry you have chosen.
