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Define risk management, why should we adopt the principles and what the application of the process offers business.

Project in Risk Management – (Report  Style)
i) List and  define the basic principles of risk management and briefly discuss the rationale of the concept and the advantages that it offers to an organisation.
ii) Develop a business plan recommendation for your executive that clearly articulates:
a) Why your organisation should implement the principles of risk management.
b) Your recommendations on an implementation process and you must justify your reasons.
Word limit guideline: 2000 – 3000 words
You must use a minimum of 3 references for this project report.Resources
The following resources will assist:
• Unit text
• Occupational Safety & Health Legislation
• Internet addresses provided and Australian Standards
Marking criteria
Presentation (10%)
Research (20%)
Application and demonstration of why risk management principles are needed (30%)
Recommendations and supporting references along with practical examples (20%)
Assignment flow and readability (10%)
References (10%)Learning outcomes

After completing this module, you should be able to

  • Justify the importance of risk management planning and implementation for successful business management.
  • Define risk management, why should we adopt the principles and what the application of the process offers business.
  • Explain the hazard and risk relationship and how to apply risk levels, risk ratings and prioritise these outcomes in terms of acceptable or unacceptable.
  • Undertake a step by step guide to the application of the risk management principles.

Reading

Textbook

Bohle, P., & Quinlan, M. (2004) Chapter 9.

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