• Home Page
  • King Island Council Risk Management Process

King Island Council Risk Management Process

Decent Essays
Show More
Risk management is an iterative process consisting of well-defined steps which, taken in sequence, support better decision-making by contributing a greater insight into risks and their impacts. The risk management process can be applied to any situation where an undesired or unexpected outcome could be significant or where opportunities are identified. It is a process that enables Council to know about possible outcomes and take steps to control their impact.

At King Island Council, risk management is recognised as an integral part of good asset management practice. Risk management has become part of Council’s culture and is integrated into the Council plan and through individual business plans. For effective management of risk, all hazards

Related Documents

  • Improved Essays

    Mcalister Field House Risk Analysis
    • 1305 Words
    • 6 Pages

    Mcalister Field House Risk Analysis

    Risk management is the process of reducing or eliminating the risk of harm to participants and loss to an organization through injury and subsequent lawsuits. Risk management plays a crucial role in any sport and recreation facility or program. If risks in an organizations facility are not identified and properly taken care of then that facility can suffer some major consequences. When conducting a risk management audit, the auditor must follow a three step process: recognition, analysis, and action. The recognition step is acknowledging safety and loss potential, analysis is identifying the risk at hand and evaluating the risk and action is the final step in the process which deals with the performance implementation.…

    • 1305 Words
    • 6 Pages
    Improved Essays
    Read More
  • Improved Essays

    Vodeb Project Risk Management Plan
    • 1584 Words
    • 7 Pages

    Vodeb Project Risk Management Plan

    Project Risk Management Plan for Vodeb Originals Website This risk management plan will center around a commercial website project. This website will focus on selling and showcasing graphic design work completed by the author of this report as well as the authors father for their company known as Vodeb Originals.…

    • 1584 Words
    • 7 Pages
    Improved Essays
    Read More
  • Improved Essays

    Rq1
    • 1478 Words
    • 6 Pages

    Rq1

    ARRANGEMENTS The Health and Safety at Work (NI) Order 1978 legally enforces responsibilities to employers with the organisation to look after the health and safety of all their employees. This legislation also requires the employees to comply with the guidelines put in place for their own health and safety. There are many regulations that have been developed under this order concerning the Health and Safety at work. These regulations require that employers perform risk assessments and provide employees with information and training if necessary (health-ni.gov.uk, n.d).…

    • 1478 Words
    • 6 Pages
    Improved Essays
    Read More
  • Improved Essays

    NHS Risk Management Essay
    • 541 Words
    • 3 Pages

    NHS Risk Management Essay

    Risk management is a rapidly developing areas within many organization, whatever their nature be it public, private, or voluntary. Risk management can be defined as: “the identification, assessment, and prioritization or risks” (ISO31000, 2009) . By utilizing these various techniques, organizations can contain various risks which otherwise could result in the potential of loss or harm to the organization or members of society. In the United Kingdom, millions of people depend on the effective functioning of the National Health Service (NHS), as various procedures are carried out 24 hours a day, 365 days a year. Due to the robust nature of the NHS it is vitally important that risks are carefully managed to prevent harm to those using its services.…

    • 541 Words
    • 3 Pages
    Improved Essays
    Read More
  • Improved Essays

    Business Continuity Plan Versus Disaster Recovery Plan
    • 657 Words
    • 3 Pages

    Business Continuity Plan Versus Disaster Recovery Plan

    First, identify risks through researching areas of high concern including; Software instillations (technology risks), area that the business is located in (environment risks), building management (workplace hazards), and internal and external employees (personal risks). Second, include all areas of management in the development and initiation of the plans including training employees in the event of an emergency. Third, assign areas of risk consistent management supervision, and enforce precise communication. Finally, “Common metrics include the number of risk assessments and business impact analyses (BIAs) conducted or reviewed on time, number of plans, which business units have plans, plans reviewed on time, plan teams trained on time, plans exercised on time, awareness sessions completed, etc. (Kadar, 2015,…

    • 657 Words
    • 3 Pages
    Improved Essays
    Read More
  • Great Essays

    Risk Mitigation Plan
    • 1096 Words
    • 5 Pages

    Risk Mitigation Plan

    Risk Mitigation Plan Spectrum Marketing’s Sign Department is creating a risk mitigation plan to go hand and hand with the introduction of customizable 3-D printing. There are many different types of risk involved with rolling out this new product that will be identified in the plan below. The purpose of this plan is to prepare the company and lessen the projected risks of the new product launch. Each risk will include a strategy or guideline based on the likeliness of occurrence on how to properly handle each case.…

    • 1096 Words
    • 5 Pages
    Great Essays
    Read More
  • Improved Essays

    Risk Analysis In Health And Social Care Essay
    • 371 Words
    • 2 Pages

    Risk Analysis In Health And Social Care Essay

    Problems faced in risk analysis may include the reason as to why some minor risks as assessed by experts in the specified area about concerns and result in substantial impacts upon society and economy. Kasperson et al. 177-187 proclaimed “the main theory is that hazards interact with psychological, social, institutional, and cultural processes in ways that may amplify or attenuate public responses to the risk or risk event.” (Sparrow) on the other hand, argued that the basic ideologies of risk management are simple but lend themselves to other elegant theories where data and process can be brought together in specialist functions. Health and social care practitioners have a duty to uphold when it comes the safety of service users and need…

    • 371 Words
    • 2 Pages
    Improved Essays
    Read More
  • Improved Essays

    Healthcare Risk Management Process Paper
    • 576 Words
    • 3 Pages

    Healthcare Risk Management Process Paper

    A. Health care organizations has a countless number of events on a continual basis. The following are some of the key processes for the industry. According to the article, “Health Care Organizations Can Improve Processes and Reduce Risk by Outsourcing Accounting Functions”,by Lars Johnson, “outsourcing the accounting functions may result in cost savings, revenue gains, access to specialized skills, mitigation of risk, and capacity management. By the health care organizations outsourcing their accounting function allows the management more time to focus on core business issues of the organization.…

    • 576 Words
    • 3 Pages
    Improved Essays
    Read More
  • Improved Essays

    Definition Essay: What Is Risk?
    • 492 Words
    • 2 Pages

    Definition Essay: What Is Risk?

    What is Risk? What is risk? Risk is something we decide to take or not to take every day in our lives, in all of our decisions, some risks have bigger effects while others don’t, but they all are risks that we take. Our decisions have a risk involved, from whether to eat hamburger or a hotdog at dinner or whether or to sky jump or not.…

    • 492 Words
    • 2 Pages
    Improved Essays
    Read More
  • Improved Essays

    Hm Risk Management
    • 586 Words
    • 3 Pages

    Hm Risk Management

    First off, before identifying how risk management is related to quality, we must first define both terms. Risk management is defined as “The process in place to identify, evaluate, and control risk; defined as the organization’s risk of accidental financial liability” (Brodnik, Finehart-Thompson, & Reynolds, 2012). Whereas quality is defined as “doing the right thing, at the right time, in the right way, for the right person- and having the best possible results” (Brodnik et al., 2012). That said, how is risk management related to quality? Quality and risk goes hand in hand because anytime we are hoping to deliver good quality care, we are faced with many challenges and thus we are constantly taking risks.…

    • 586 Words
    • 3 Pages
    Improved Essays
    Read More
  • Improved Essays

    Deepwater Business Risk Analysis
    • 1111 Words
    • 5 Pages

    Deepwater Business Risk Analysis

    It is inevitable that all organisations face certain risks. As pointed out by Fadun (2013), risk is a fundamental part of business because firms operate around taking risks. Risks don’t always come at a cost, sometimes taking a risk can benefit a business and increase its revenue, that is if managed correctly. According to Beck (2002), “Risk inherently contains the concept of control”. It is important that organisations acquire the correct skills in order to gain control and establish the most effective way of preventing losses from occurring and minimise the economic consequences of the losses they were unable to prevent.…

    • 1111 Words
    • 5 Pages
    Improved Essays
    Read More
  • Improved Essays

    M & MM Rotational Flavor Project
    • 891 Words
    • 4 Pages

    M & MM Rotational Flavor Project

    Risk management is the process of identifying risk, assessing risk, and taking steps to reduce risk to an acceptable level. “Through risk management, the project changes from being in control of the project manager to the project manager being in control of the project” (Mulcahy, 2009). It is the portfolio managers’ responsibility to ensure projects align with an organization 's Objectives, Goals, Strategies and Measures (OSGM)…

    • 891 Words
    • 4 Pages
    Improved Essays
    Read More
  • Improved Essays

    Key Term Business Risk
    • 716 Words
    • 3 Pages

    Key Term Business Risk

    Additionally, Mujtaba (2015) conveys that information risk is business professionals make management decisions without having all the needed information. They must understand the risks that their business are facing and focus on eliminating those risks. As stated by Satterlee (2014), successful business professionals identifies potential risks, assesses them and their profits potential, and then apply the appropriate risk mitigation tools in place(p.99). The mortality factors in businesses are related to the business’ characteristics, as well as to the way that the handle resources. The lack of a formal plan, as well as a lack and or bad management of the functional area resources are the most common.…

    • 716 Words
    • 3 Pages
    Improved Essays
    Read More
  • Improved Essays

    Analysis: Creating And Congruent With The Investment Process
    • 877 Words
    • 4 Pages

    Analysis: Creating And Congruent With The Investment Process

    Furthermore, the appropriate risk management could improve the quality of decisions, and it is likely to minimise the fluctuation of the cash flow and the value if the risk management is ignored. Therefore, in order to maximise the value, the consistency of their behaviours are necessary for the…

    • 877 Words
    • 4 Pages
    Improved Essays
    Read More
  • Improved Essays

    Boeing Risk Management Case Study
    • 862 Words
    • 4 Pages

    Boeing Risk Management Case Study

    Boeing is an Amercian multinational cooperation that offers aircraft and product support services (Boeing: The Boeing company, no date). Being in the aircraft business involves a lot of risk unless someone is not careful and decisions are not made through careful and accurate analysis. They need to be on top of their game at all times ensuring safety of passengers and to uphold a good reputation to be able to be successful in the industry, in the long run. Risk comes in a number of different ways and are often unexpected. Risk management is fundamental to all business activities.…

    • 862 Words
    • 4 Pages
    Improved Essays
    Read More

Related Topics

Ready To Get Started?
Discover
Company
Follow
©2024 Cram.com
Privacy Policy |  About Ads |  Site Map |  Advertise  | 
  • Cookie Settings