Assessment of Risk Management Process - Case Study Example

Name: Instructor’s Name: Course: Date: ASSESSMENT OF RISK MANAGEMENT PROCESS Risk management is a process that stems from the identification, evaluation and mitigation. Any organization has to monitor the trends to ensure that the company is operating in accordance to the expected standards either internally or externally(Parker and Mobey, 2004). Risk management process is costly and involves a lot of resources to be successful as time is a major factor and effectiveness. In Savilis (VIC) pty limited, the process follows the major aspects that seem to enhance effectiveness. Risk management enhances the organization to make the right choices even in the handling of the risks. This is because the knowledge of the details is important as it can act as a solution also to some extent. The areas that risky are identified as the hazardous areas in the organization. This paper focuses on the analysis of Savilis (VIC) pty limited risk management process. The identification process, evaluation, treatment, monitoring and the general situation is assessed here. The process is outlaid as it occurs in the company and the report gives all the details as it is carried out. Some of the areas that are identified include the legionella, hazardous materials, waste and the environment of the business. The identification of the risks in the company includes the observation through a visit and review of the situation in the company. The areas identified are risky though the Company has not documented the causes as the solutions can bridge from the causes(Parker and Mobey, 2004). The risky areas are identified in accordance with the management, the location, the susceptibility of the employees toward the risk and the quality of the protective measures undertaken by the company. The documentation of the process is done and the records kept in accordance to certain standards. I notice that the causes of the risk factors in terms of people, technology and equipment are not identified in order to solve the issue in an effective manner with the right approach. The causes are analyzed in order to identify the solution as intermediate and even prioritize. The length of time taken to deal with the risk regarding the resources available, ranking and the measurement are identified if the causes are known in order to ensure that it is handled appropriately(Parker and Mobey, 2004). The identification of the risky areas is not clear but has a footing as it can be through sharing knowledge, hiring specialists, maintenance checks and incident reports among other modes which are very much recommended but depend on the circumstances that the company is expose to. The issues that come up after identification include the likelihood and the consequences in case of risk occurrence. Can the company handle the risk and how? What can be done to use the resources in the organization efficiently and avoid wastage? The risk levels have not been identified in this process whereby they are ranked in accordance to the risk occurrence and the priority of the risk(Crouhy, Galai and Mark, 2000). There are many modes of mitigating a risk. This can be done through elimination, engineering, administration, substitution and personal protective equipment. There are also controls which should be implemented to reduce or eliminate the risk. The methods that might be taken up to handle a risk are different(Crouhy, Galai and Mark, 2000). Some can be prevented or mitigated as outlined above. All these options consider the important factors like the situation in the company in order to be taken up. A deep analysis of the risk can even lead to some solutions that re taken up by the organization. As can be seen from the analysis, some risks are prevented, limited or solved depending on the company’s position as at the moment I believe(Crouhy, Galai and Mark, 2000). The monitoring and review process in this company is done through planning of times to carry out the review. The documented reports are also kept and analyzed to act as prove. The monitoring in the risky areas is done through audit and some planned visits and redo which ensure that the equipment and the facilities that are utilized in the organization are in good shape. The levels that the company operates in are ranked as compliant, partially compliant and substantially compliant while some are not applicable(Roberto, 2009). According to the report the not applicable comment occurs in a situation that is not a threat to the company or the levels of occurrence are at a low level which is efficient. The controls as monitored are however not documented and are recorded as some of the aspects of quality control that are covered much later in the report. The reports that are documented in the particular risky areas and stationed in the area enhance constant review and comparison. This is important as the performance of operations in the company can be compared and monitored. There are inspections conducted as some of the solutions to some issues and the risk reports are reviewed constantly(Roberto, 2009). These are important as some of the risks are mastered and solutions developed. For instance, one of the prevention measures includes the banning of entry of some individuals to some workstations that are considered dangerous and are saved for only the specialists and employees which is a form of engineering solution. Continuous improvement is important for any company. The ideas that might be involved here include constant review and inspection of all the risky areas, whether it occurs minimally or does not occur at all in the company. This is being ready for anything and planning for the costs that might be involved should the risk occur unexpectedly. The categorization of the risks should also be considered as; there are many factors that determine the solution and approach that might be taken to solve a risk that is identified. The Company should invite a third party to give the views like an auditor for instance after a period in order to know the real situation and get another view of the situation as it is in the organization(Roberto, 2009). Critical Success Factors Legionella Savilis (VIC) pty Limited has made it successful in line with ensuring there is a Safe and also ready access that enables inspection, maintenance and cleaning of all of the cooling towers. This is in line with the stipulated government callings. This gives room to any concerned individual or responsible party that has an authority to inspect the company’s premises. However, it is still necessary for the company to improve on the safe access to Tower 7016. Asbestos / Hazardous Materials The company has ensured that is has installed the required Trade Waste Agreements in order to aid in the disposal of the discharges to sewers. This is a new way of working on wastes as it does away with the domestic sewage. It also ensures that the laws laid down by the local authorities are followed to the latter. Public Liability In line with the Model Work Health & also Safety Regs of 2010, the company’s floor areas are free from any form of protrusions. This is especially the common areas that are always visited by the employees. This ensures that any issues to do with slippery floors are greatly dealt with, hence avoiding any hazards. They have also put in place the necessary processes to isolate and also clean-up any spills. The site is also under a daily surveillance of cleaners to ensure the desired standards are maintained. Fire Safety This is an area that needs a lot of care by the management, and the company has done its best. As stipulated under the law, the given Fire Hydrant cupboard that is located in the main basement car park all have the appropriate fire sign displayed. This ensures that there is adequate prevention of occurrence of any form of hazards. The required legislation, Codes of Practice and national standards that must be met for the facility Public Liability Model Work Health & Safety Regs 2010 r. 3.1.1 has to be considered in line with the public liability. There is a high slipping risk on the floors of the company, which many lead to injuries on the employees. This may actually occur during the wet test, hence affecting the normal working conditions in the company. Disabled Access The failure to incorporate the provisions of the Commonwealth Disabled Standards of 2010 in the event of the last 12 months, in the company, raises eyebrows. This is necessary to ensure that the building meets the required standards by the law, and to ensure that the company is compliant with the policy. Easy evacuation of the occupants is necessary, especially during an emergency, or even normal working hours. Radio Frequency Radiation Model Work Health and Safety Act 2010, Section 19 & 20 has been violated by the company as there are no evident radio frequency devices on the site. This is dangerous especially due to the dire need of information conveyance in any company, instructions and also training. Analysis Benchmarks, discussions and invitation of specialists to talk about the situation in the organization are also important. There might be aspects that are ignored by one party and this can be minimized through, the various views and options that are identified and discussed by the peer groups and individuals(Roberto, 2009). The rankings and the measurement against criteria should be done frequently in order to ensure that the important arising issues are put into serious consideration and solved at the right time. All these issues arise and the company should be able to adapt and solve hem earlier instead of incurring major costs in the future while some risks ruin the reputation of the company which is not easily regained to the norm. Success of an organization is dependent on the management, strategies adopted, the technological adoption that acts as prove of the flexibility of the company and the social responsibility of the Company. The management plays a crucial role as they are the decision makers and the head who determine the direction of the company. The strategies that might be implemented and adopted by a company are important as they depict the various situations that are presented, the prior planning and the approach which is taken(Terra and Gordon, 2003). In terms of the risky areas and all the areas in the company are considered and explained in detailed in order to find a substantial solution. Some of the risks are not adequately identified unless there are specialists who are involved, the auditors, stakeholders and other important players that ensure the company stands still in all circumstances. The management, placement of resources and the relation of the employees towards the organization and their work is important. A strong system from the employees to the managers who are willing to act as team players and realize the attainment of the vision and mission of the company is quite important. This is how ideas, important issues and problems are handled as expected and given the magnitude needed in order to handle the situation as it is really in the company. Flexibility of the company to adopt better methods to increase the output and the social responsibility that gives the reputation of the company are all important determinants of the success of any company(Terra and Gordon, 2003). The government is always the determinant of the legislation, codes of practice and national standards of a company. The Savilis (VIC) pty Company legislates both internally and externally in accordance to the aims in order to ensure that success of the vision and mission is achieved. The laws are made with view of the government rules and regulations in order to ensure that the company is under the law(Puglielli, 2013). The internal factors to be considered are handled at all levels to ensure that the company operates in the norm and is not outdone by external trends which prevail in the surroundings. These factors shape the codes of practice in the Company so as to prevail in the market and the situations that are external to the Company. The codes, the laws and the national standards are attained upon taking up the right approach towards important issues in order to ensure working under the law nationally. The change always begins from inside and can be evident outwardly. Every company or organization should set standards as are set by the company to deal with the risks. It is always circular motion that continues growing whereby, if things at the core are handled and developed rightly, the positive effect is seen up to the employees and the whole company in general(CHAPMAN, Volume 32 (3)). Risk handling is a strategic act that requires and demands a lot of attention applied in the right manner. Savilis (VIC) pty Company is an organization that is handled in a fairly correct manner. The documentation of the risks is done and the risks are identified. I believe that there is always room for improvement as it can be made better. The Company should be artistic in the application of some aspects like the identification of risk and the priorities developed thereof. The company is operating in a fair manner that enhances the continuous existence of the organization. References Anna Chapman. Volume 32 (3).protections in relation to dismissal: from the workplace relations act to the fair work act. unsw Law Journal M. Puglielli. August 2013 (Revised February 2014). Hazard Identification & Compliance Assessment .459 Little Collins Street, Melbourne.Savilis David Parker and Alison Mobey. 2004. “Action Research to Explore Perceptions of Risk in Project Management,” International Journal of Productivity and Performance Management 53, Michel Crouhy, Dan Galai and Robert Mark. 2000. Risk management. New York. McGraw Hill Michael A Roberto. 2009. The art of critical decision making. Teaching Company Chantilly, VA: Teaching Co. José CláudioCyrineu Terra and Cindy Gordon. 2003. Realizing the promise of corporate portals: leveraging knowledge for business success. Amsterdam; Boston. Butterworth-Heinemann Read More