Online Tutoring on Risk Management

RISK MANAGEMENT DOCUMENTATION

The Northlands Football Netball Club (NFNC) is one of the Bendigo Football Netball League, an Australian Rules football and netball competition in Victoria. The incidents mention in the ‘Fictional Scenario’ has raised several questions related to the governance processes of the Northlands Football Netball Club and there is urgent need to prepare a risk management plan documentation for future pre-season camps.

Generally, the primary objective of a sports risk management program is to safeguard the assets and financial resources of an organizations and its members by minimizing risk and loss possibilities. The lower level of legal risk is considered as the outcome of a successful implementation of the risk management program.

Risk management policy gives supports and provide a foundation for running a program. The support of the management committee and its inclination for philosophy to become part of the culture of the club is important to the success of the program.

Risk management process

Every type of business face different types of several risks, therefore risk management is consider as an important ingredient in the business strategic management. risk management framework enables you to face various types of risks that help the business to successful achieve its objectives. Therefore, management of Northlands Football Netball Club need to ensure that risk management policy should be implemented, and maintained at all club levels. There are five steps of risk management process that need to be follow by Northlands Football Netball Club in proper way.

Below is the complete detail of all five steps of risk management process:

 

  1. Establish the context

As context is very important in any field and area, same as the case with risk management There are two main context that play very important role:

  • The strategic context.
  • The organizational context.

The first strategic context deals with the overall environment of the organization while the second organizational context includes aims, objectives and primary activities of the concern club.

In the case of Northlands Football Netball Club, there is a need to establish environment that deals with any type of risk within certain boundaries because the scenario shows that the both context, strategic and organizational, have various issues that cause uncertainty in the structure of club. As in the strategic context, the overall environment framework of the Northlands Football Netball Club is weak therefore, they miss several necessary pre-requirement of hiring any personal while in the organizational context, Northlands Football Netball Club does not care about the activities of its coach and players that give birth to the several incidents that damages the reputation of the club.

 

 

  1. Identify the risks

This step aims to identify all of the risk sources. There will be different sources of risk for each football club, depending on their activities, membership base, location, and environment.

There are a variety of ways you can categorize risk sources. Techniques used to identify risk contain checklists, previous experience and record based judgments, brainstorming, and structure analysis. The systems used will rely on the practices being reviewed and the risk types. The best way of identifying risk requires the examination of all risk sources such as facilities, activities, program supervision and treatment of injuries to players and the point of view of both internal and external stakeholders.

Based on the given scenario, the Northlands Football Netball Club and its people exposed to the following type of risks:

  • Physical risk
  • Ethical risk
  • Legal risk

Here, the physical risks for Northlands Football Netball Club include personal injuries that cause by Jerry to Tom during practice match and environmental that is due to excessive use of alcohol in the pre-season camp as a result Dillon get injured. Ethical risks include direct or indirect harm to Northlands Football Netball Club  reputation or ideologies because all the incidents happened in the pre-season camp have violated many ethical standard in terms of discrimination i.e. gender and Netball players, and excessive usage of alcohol in the after match party. Legal risks comprise of obligations imposed on Northlands Football Netball Club are from injured players and their families.

 

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Following the risk identification, there is time for the Northlands Football Netball Club to determine which risk factors are likely to have the higher impact and the set priority according to them. The level of risk is assessed by integrating estimates of likelihood and consequences.

  • The likelihood of event happening
  • The magnitude of their consequences being analysis.

It is vital to understand the consequences and the likelihood of risk in relation to the activity, the nature of the Northlands Football Netball Club and any other factors that may affect the consequences or the likelihood of risk. The sound application of risk identification and analysis techniques produces a prioritized list of risks.

The Northlands Football Netball Club Risk Manager can evaluate the risk using both quantitative and qualitative methods. The club has to make proper estimates that reduces the level of risk i.e. physical, ethical and legal, in future.

 

 

  1. Evaluate the risks

Once the risk is analyzed then the evaluation stage comes, this entails determining whether or not the level of risk comes under the acceptable level of the context defined in step one.

Risk evaluation constitutes attributing the level of risk identified during the analysis process that defined risk criteria and choosing whether to accept risks or not.

In the case of Northlands Football Netball Club, the physical, ethical and legal risk is very high therefore, the risk is acceptable and there is a need of proper planning with proper treatment to mitigate these risks.

 

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The final step is risk treatment, which entails identifying the multiple options for risk treatment, assessing those options, making risk treatment plans and executing them. It is about discussing the treatment options and choosing the most suitable technique to produce the desired result. The Australian Risk Management Standard detected six major treatment options but it is important to understand that in all scenarios they are not mutually exclusive or appropriate.

Following are the six major treatment options:

  1. Accepting the risk.
  2. Avoiding the risk.
  • Reducing the risk.
  1. Transferring the risk.
  2. Retaining the risk.
  3. Financing the risk.

In the given scenario, the Northlands Football Netball Club need to deal with the associated risk that caused by the certain decisions and activities of new appointed coach and senior player of the club, Booty McBootface. Here the combination of different treatment options are used i.e. first accepting the risk and then try to reducing the risk through combined efforts of whole management of Northlands Football Netball Club. In the last, financing the risk by hiring Risk Manager and budgeting the risk management initiatives and plans for the upcoming club events.