Risk Management Simulation Strategy Paper

Improved Essays
The external risk layer involved in California is severe thunderstorm which is huge risk to the client as thunderstorm is such kind of risk which can on the whole effects labors, property and profitability of the client because as risk of severity of thunderstorm increase it might create air of terror and if any point of time if thunderstorm took place it will prove as threat to live of the labor, threat to infrastructure of the company and the profitability of the client.
Same happened to client when severe thunderstorm hit the organization cause electricity cut off for several hours and client had to shift to work from home recovery plan. Because of which company has inform all the clients through hotline about the situation has to borne
…show more content…
Only in this way the client can achieve its desired objectives. As in case of client in order to avoid the risk of thunderstorm the company should limit risk by keeping power backup system which works if electricity outages happen and keep underground electrical system in order to keep it safe from thunderstorm.
Benefits of Mitigating Strategy:
The benefits of the Risk limitation strategy which is recommended here is it will provide advantage to client over its competitors and will help the client to survive and adapt successfully to the changing environment of business, technology and economics, and will reduce its cost which it might borne in buying insurance against its operations.

Answer
…show more content…
We are sorry to inform you all that the organization is experiencing power cut off due to severe thunderstorm hit Naperville area last Wednesday at 11:15 PM. So in this short term crises which will be resolved soon, the company is implementing staying home strategy according to company’s short term recovery plan devised for the company in Business continuity recovery organization chart. It is advised you all to work from your homes, your extensions have been transferred to your home landline numbers and you have your laptops to continue your office work from homes in case of any query please consult J.Harry or your respected department manager. Till next notification continue your work from home.

Task 2:

Dear Employees,
THIS IS NOT A TEST...
It is to inform you that on Wednesday at 11:15 PM there were several Thunderstorm hit Naperville, IL and the company is suffering from electricity cut off till the issue gets resolved by the electric supply department, the company has decided to move to its recovery plan to work from home. And in this case the your landline extension 1029 has been transferred to your and your team’s home landline number and you and your team have company provided personal PC’s at home so continue your work till the issue get resolved. I request to you convey your team the assigned via email system till issue get resolved.
Thank you.
AGAIN THIS IS NOT A TEST!
This message is from the ABC’s emergency

Related Documents

  • Superior Essays

    Nt1310 Unit 8.2

    • 772 Words
    • 4 Pages

    Each employee should be held responsible for ensuring that their daily backup has taken place without any errors. If errors should arise, an IT Professional such as myself should be notified…

    • 772 Words
    • 4 Pages
    Superior Essays
  • Improved Essays

    Attackers exploiting default configurations to gain access to the network and to information stored on devices in the network are major threat to home gateway devices. In order to mitigate this threat there are many common default configurations a user should change. When setting up a home network, a user should make sure to change the default passwords. They should set up a strong account password and wifi password using best practices. The user should use a strong security protocol such as WPA2 instead of the default WEP which is not secure.…

    • 693 Words
    • 3 Pages
    Improved Essays
  • Decent Essays

    During the above-mentioned evaluation, it was found that there is a flaw in the communication and distribution listings within the email distribution groups. Not all subdivision leaders are included in those global email distribution listings, therefore an assessment of such was required. After the execution of the additional task, the findings were presented to the IT department for immediate action. However, due low manning and the excessive volume of inquiries to the division, the responsible IT department has not been able to consider the inquiry which was presented to them.…

    • 246 Words
    • 1 Pages
    Decent Essays
  • Great Essays

    Strategic Financial Plan Team B FIN/486 September 30th, 2014 Daniel Konzen Strategic Financial Plan The Huffman Trucking Corps strategic planning is the reason why they have been in business since 1936. The financial portion of the strategic plan is crucial for the company’s continued growth and existence. The statements will be from the last 3 years consisting of income statements, balance sheets, and cash flow statements. All three statements will explain major assumptions and identifies areas of risk.…

    • 1313 Words
    • 6 Pages
    Great Essays
  • Improved Essays

    Although the terms of agreement stated above, are applicable to Fern - it is recommended that a non-solicitation clause be placed in his terms of agreement in the event that he decides to accept the offer to join the company. Based on Mann Lawyers (2013), an non-solicitation clause pertains to an agreement indicating that the staff agrees not to approach workers of the business and influence them to leave the establishment for new employment opportunities, or approach customers of the firm for their patronage (Mann Lawyers, 2013). This clause will be important owing to Fern’s status as an award-winning designer and his possible ability to motivate other employees if he decides to disengage from the entity. Apprenticeship In the case of Dorothy, being that she is 16 years old - she can legally be employed in Canada, in all provinces and territories (Commission for Labour Corporation, 2009).…

    • 1014 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    Midwest Retirement Community will have management team for operation, marketing and financial to manage the business all reporting to the business owner. Business owner is responsible to selecting site, securing finance, registering the business, and obtaining all appropriate permits and license. The business owner is responsible for hiring and firing of all employees with input from managers. Midwest Retirement Community operation’s team consists of maintenance technician team reporting to operation manager. Operation Manager will directly report to the Owner.…

    • 613 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    As CCI note 13/3 mentions, my primary reason for choosing rolled storage for the scarf is that it is a space saver. Since folding the object is not recommended (Nielson 213), it would be difficult to find a storage space for the scarf that would be able to accommodate the length of the scarf without wasting storage space. Additionally, keeping the scarf rolled makes it much easier to move than if it was stored lying flat. The one pitfall to rolled storage is that in order to view the textile, a fair amount of handling has to ensue. However, attaching a tag with detailed information and a colour photo of the scarf, as detailed by CCI note 13/3, helps to reduce the amount of handling that could occur by allowing staff to see what it is without…

    • 677 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    Mike Smith, an Accuweather executive and author of Warnings, had suggested that officials should have hired a professional private sector meteorologist which would have allowed them to have better information than relying on the National Weather Service warnings and their smart-phones to detect weather warnings (Samenow, 2011.) “I do know the science and technology exist to provide advance warning in order to evacuate people when severe thunderstorms present themselves” (Samenow, 2011.) Hiring a private meteorologist would allow for events to have the information needed in case of a storm like this to happen again. The official should also need to have a well-laid out plan to not only take in the information but to know what to do with that…

    • 212 Words
    • 1 Pages
    Improved Essays
  • Decent Essays

    4200 Case Study

    • 510 Words
    • 3 Pages

    We are still in the process of vetting the data however wanted to provide you with an update of what we have identified thus far. Please note that the excel spreadsheet has multiple tabs Payments: • The data is pulling the coverage periods correct for the cases reviewed. However, we have identified instances where the 45001/2 cases in NCFAST are sometimes not agreeing to the 4200 case NCFAST screens (for example, FNSPAYMENTSID 15935001). Can you please provide the FDs that document the restoration and supplemental underpayment cases.…

    • 510 Words
    • 3 Pages
    Decent Essays
  • Improved Essays

    Recovery is one of the four major phases in the continuous cycle of emergency management. Dr. Baird states that “the ‘recovery’ component of emergency management is more complex that the other components and involves a much larger group of diverse stakeholders with sometimes-conflicting objectives.” (Baird, 2010). A concise description of the recovery phase is: “The basic definition of recovery is the process of returning a community to ‘normal.’” (Castillo, 2011).…

    • 988 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Natural disasters and terrorist incidents can be classified as low probability and high consequence events (Kunreuther, 2006). It can be argued that the reason for the greater concern of terrorism is due to the high consequences of the shock and awe, even though significant storms have impacted various regions of the country lately resulting in high consequence and recovery. Unfortunately, a good number of people do not consider the threat of natural disaster such as a storm, as a serious concern. They may be aware of a pending weather event and prepare with extra food to shelter in place or securing their homes during a serious weather event.…

    • 784 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Recovery Plan

    • 784 Words
    • 4 Pages

    Since the beginning of the civilization, among the various crucial factor which greatly influences the essential activity of the human being as well as regulate the quality of life, health is most significant. As per the given instruction this assessment will be focusing on the various aspect of the recovery plan relating to the various potential disasters in the perspective of the safety of various relevant medical documents as well as clinical data of numerous patients (Croskerry, 2010). The whole concept of various recovery plan from disaster as well as work flow relating to this systematic plan is belong to a systematically, powerful body, that is ministry of health care. Various potential disaster as well as various security related issues,…

    • 784 Words
    • 4 Pages
    Improved Essays
  • Superior Essays

    Essay On 1980 Heat Waves

    • 2096 Words
    • 9 Pages

    In total, the United States faced a heat wave natural calamity for 71 consecutive days experiencing a huge loss of life and economy ever. There are various phases of disasters: Mitigation Mitigation can be defined as arrangements that are conducted before a disaster occurs in order to reduce the adverse effects and damages (Cliff, 2007). It is the process of identifying the potential hazards that affect country or region and on that basis, the various strategies and decisions are taken and implemented. It reduces damage effects for emergencies.…

    • 2096 Words
    • 9 Pages
    Superior Essays
  • Great Essays

    INTRODUCTION ‘Simulation is defined as the process of creating a model (i.e., an abstract representation or facsimile) of an existing or proposed system (e.g., a project, a business, a mine, a watershed, a forest, the organs in your body) in order to identify and understand those factors which control the system and/or to predict (forecast) the future behavior of the system. (Eckhardt, 1987).’ ‘Monte carlo simulation , or probability simulation, is a technique used to understand the impact of risk and uncertainty in financial, project management , cost and other forecasting models. (What is Monte Carlo Simulation, n.d. , para.1 )’. ‘Monte Carlo simulation was named after city in Monaco (famous for its casino) where games of chance (example,…

    • 799 Words
    • 4 Pages
    Great Essays
  • Improved Essays

    A good method of managing risk is by looking back at their past mistakes, evaluating them, correcting them, working on them and ensuring they don’t happen again. By doing so, they can avoid and mitigate potential pitfalls. In December 2006, the Boeing airplane was found to be much heavier than it was supposed to be as well as other technical problems which had caused a delay for it to enter service (Laurin, C. 2010). The company should consider possible events that could affect the project’s outcomes and then creating contingency plan. Boeing Commercial Airplanes should take up proactive attempts to foresee probable conditions that could prove adverse to the project and to plan to mitigate (find a solution which decreases the negative impact of the…

    • 862 Words
    • 4 Pages
    Improved Essays