ORGANIZATIONAL-RISK-ASSESSMENT.pptxREPORT-group2.pptx

PPTX

1. ORGANIZATIONAL RISK ASSESSMENT

2. What is Risk? In simple terms, Risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences.

3. Organizational Risk ? Organizational risk is anything that generates uncertainty within an enterprise. Leaders concern themselves with organizational risk because it has a direct impact on the financial stability of the organization.

4. Two main Categories of Risk: 1. SYSTEMATIC RISK - is the market uncertainty of an investment, meaning that it represents external factors that impact all ( or many) companies in an industry or group or organization. 2. UNSYSTEMATIC RISK - risk represents the asset-specific uncertainties that can affect the performance of an investment in an organization.

5. Types of Risk: Systematic Risk - the overall impact of the market Unsystematic Risk - Asset-specific or company -specific uncertainty. Political/Regulatory Risk - the impact of political decisions and changes Financial Risk - the capital structure of a company/ organization (degree of financial leverage or d ebt burden) Interest Rate Risk -the impact of changing interest rate Country Risk - uncertainties that are specific to a country

6. Types of Risk: Social Risk - the impact of changes in social norms, movements, and unrest Environmental Risk - uncertainty about environment liabilities or the impact of changes in the environment Operational Risk - uncertainty about a company’s operations, including its supply chain and the delivery of its product or services

7. Types of Risk: Management Risk -the impact that the team have on a company decisions of a management. Legal Risk - uncertainty related to lawsuits or the freedom to operate. Competition - the degree of competition in an industry and the impact choices of competitors will have on a company.

8. Risk Management Process:

9. COST OF POOR RISK MANAGEMENT Why we encounter poor risk management?

10. Effects of poor risk management: Wasted efforts - the worst and painful kind of waste is the waste we do not encounter or sometimes we do not recognize. Disputes and Friction - most litigation and disputation involves smaller organizations. Human Cost - poor risk and finger-pointing also have enormous human cost.

11. Human Cost Anxiety - threats and uncertainties cause stress, uncertainty and anxiety. Lack of Trust -facing risks in the workplace leads to loss of trust in organization and a loss of confidence in employees’ ability to succeed . Talent Management Problems -inability or unwillingness to address risks, both positive and negative, can lead to mismatches between people and positions.

12. Human Cost Disengagement - inability to address risks undermines employees’ perceptions of an organization’s ability to learn from mistakes. Undermined moral - poor risk management can also lead to employees feeling devalued and unrecognized.

13. Organizational Risk Template What is a Risk Assessment Template? A risk assessment template is a tool used to identify and control risks in the workplace. It involves a systematic examination of a workplace and its environment to identify hazards, assess injury severity and likelihood, and implement control measures to reduce risks. https://safetyculture.com/checklists/15-best-risk-assessment-checklists/

14. FAQs About Risk Assessment Templates

15. FAQs About Risk Assessment Templates

16. FAQs About Risk Assessment Templates

17. What is the Correct Format of the Template? When creating a report, the following information should always be present: Who is at risk? -It is important to specify the demographic that is at risk of an identified hazard. Current control measures -Find out and include what the organization is currently doing to lower the risk of injury for identified demographics.

18. What is the Correct Format of the Template? Necessary improvements /changes to control measures -Come up with ideas on how they can be improved or replaced to further lower the risk of injury for identified demographics. Assignments and deadlines -Finally, include the names of personnel who will be responsible for the updates, along with clear deadlines.

19. Writing the Title Page Who prepared it? -Refers to the name of an individual risk assessor or the company/team working on the risk assessment report. Who is it for? -Indicate what or who the risk assessment is for.

20. Writing the Title Page Done on -Specify the date on which the risk assessment and the report were completed. Review date -This indicates a specific date set for reviewing risk assessment protocols. As a general rule, a risk assessment review must be done whenever significant changes are made to operations.

21. Sample basic Risk Assessment Template

22. Sample basic Risk Assessment Template

23. Sample basic Risk Assessment Template

24. Sample basic Risk Assessment Template https://public-library.safetyculture.io/products/basic-risk-assessment-template?amp_dev=62e46073-bc22-44bf-9715-148e5d26238e

25. ORGANIZATIONAL RISK ASSESSMENT ID #   RISK(1)   RISK PROBABILITY(2)   RISK IMPACT(3)   RISK PRIORITY(4)   MITIGATING ACTIONS(5)   FREQUENCY OF CONTROL(6)   OWNER(7)   Ensure to number the risks identified.   Identify  potential  problems/issues in attaining the objectives.   Identify the likelihood that the risk will happen.Refer to the Probability/Impact Matrix    Determine the priority status based on the impact.Refer to probability y / Impact Matrix    Compute for  the rank on the risk identified, using computation:Risk Probability X Risk Impact(2)x (4) Determine the process / activities / actions to reduce exposure fn the region and likelihood of the risk to happen   Determine how often will the mitigating actions be controlled. Identify the Functional Division / Office / Unit in charge of the implementation of the Mitigating Factors

26. VALUE THE IMPORTANCE OF DETERMINING THE RISK IN THE ORGANIZATION 1. Crucial for planning 2. Informed decision making 3. Safer work environment 4. Demonstrate Leadership 5. Improved employee engagement and productivity 6. Improved communication 7. Financial savings 8. Ensures compliance with regulation 9. Reduced uncertainty 10. Prevents reputational damage