The paper "Risk Management Plan for the Department of Education, Employment and Workplace Relations " is a good example of the management case study. Risk management plan in any organization plays a significant role in managing the business-related risks. Its aim is to initiate vital information and promote good practice to individuals involved in managing risk. There are various considerations when initiating this process in an organization namely, (a) identification of risk, (b) assessing the risk, (c) planning for the risk, (d) monitoring or tracking the risk and (e) Communicating the risk.
To create effectiveness in this process, all individuals within the organization should be responsible for the identification and management of risk in relation to Risk Management framework of an organization. Risk management also provides a system for the setting of priorities when there are competing demands on limited resources. Program summary In Australia, the Department of Education, Employment and Workplace Relations (DEEWR) is a leading government agency providing national leadership in education and workplace training, the transition to work and conditions and values in the workplace. The department works in collaboration with the states and territories and has offices and agencies throughout Australia and overseas allowing an active, national and client-focused approach.
The Department is accountable to the Australian Government, Parliament and to the public for all issues including risks and the main objectives, such as the development of national economic potential, an increase of workforce participation, shareholders involvement and being innovative. 1. Have the organisational, strategic and risk management contexts been appropriately established does the risk management plan take appropriate account of these? The organizational, strategic and risk management contexts have been appropriately established in the company.
These contexts have taken into account the fact that there lies a great danger in the organization owing to the status of the pedestrian crossings which have been dilapidated over time. This entails the dire need for the human traffic to be protected thus forcing the organization to have a detailed plan which takes the objectives into account. This means that the contexts have been considered in the plan. 2. Does the organisation have a Risk Management Policy and is risk management sufficiently embedded in the team/organisation? Since the establishment of DEEWR on December 3, 2007, it has shown great commitment to developing an efficient and effective culture of risk management.
The Departments of Education, Science and Training (DEST) together with Employment and Workplace Relations (DEWR) has come up with risk management policies and frameworks embedded within the operations of this department. This very strong foundation has enabled the department to progress its planning for risk management. The executive to this department recognizes the need to have involvement, endorsement and continuous development and support from the senior department heads for risk management to be efficient.
The practise of risk management has been integrated with fraud control, insurance, project management, business continuity, procurement and finance. The executive ensures that day to day making of decisions and undertaking the various activities is a doe with respect to risk management principles. Please refer to the risk management plan document attached to this assignment. Risk Management is the culture, processes and structures that are directed towards the effective management of potential opportunities and adverse effects within the DEEWR environment. The department conducts its business in an inherently high-risk environment and the risks identified are extremely relevant to the strategic plan.
The strategic plan reflects on Government Funding, Professional Service Delivery and Recruitment of Right people at the Right Time for Right job. Major issues like Security, OH& S and Changes to Legislation are an embedded part of the department which is the most significant section in all Government decisions and policies. Other major risks are also considered such as financial, strategic, organization and political risks (Australian Government, 2008).