MGB341 Operational Risk Management Assessment 2 – Risk Management Plan

Task Requirement:

This task requires you to create a risk management plan for the ‘project’ defined for the case organisation. In the real world, a risk management plan requires that a Threat Register / Risk Register exists for the project, and would be far greater in scope and detail than what is being asked of you in this assessment task. For this assessment task, you need to provide a report that generates:
• A general risk management plan (1000 words) for the project, including...
o The objectives of the ‘project’ and a description of the benefits, hazards and unknown factors for the technology
o The process which will be used to identify, analyse, evaluate and treat threats (initially and throughout the project)
o The process for identifying an appropriate level of response from the organisation’s management so that threats can be treated
o How often the Threat Register will be reviewed, the process for review, and who should be involved in the review
o How risk status will be reported and to whom
• A specific action plan (1000 words) for treating the project’s current risk rating, including...
o The current risk status for the organisation (a quick summary based on your risk assessment from Assessment 1)
o The proposed risk treatment(s) that should now be applied to the ‘project’ (using your suggested recommendations from Assessment 1, taking into account the feedback provided by your tutor provided at the end of Week 9)
o Identified vulnerabilities to the organisation and/or its objectives
o A detailed series of prioritised steps that explain the processes/changes required to treat the evaluated risk for the project
 Mechanisms for seeking and acting on feedback from key stakeholders should also be included:
o Justifications that explain (using risk theory, concepts and standards) why each step and priority is appropriate and how these steps appreciate the vulnerabilities of the organisation and/or its objectives.