Your task: Review all the possible sources of risk, not just the locking mechanism, analyse them, come up with mitigating strategies and conclusions. As there is no more information available, clearly state any assumptions (including constraints) that you make, with appropriate supporting rationale. Present your working methods, and results. You are presenting to a panel who are looking to see that you have done a thoroughly professional job at all stages of the risk process, so they can have confidence in your conclusions. (see file The Task and Background) Theories and models to be included are all take from the slides: – Pickford(2001:51) Utility Function figure (see slide 1) – The Generic Risk Behaviour Model (see slide 1) – Organisational Risk Characteristics figure (See slide 1) – The MoD Risk Mgt Process (see slide 1) – RISKMAN activities (European) and The RISKMAN 8 step process (see slide 1) – MoR Management of Risk Framework (see slide 1) – ISO 31000 RM Process (see slide 1) – The 2002 ALARM/IRM/AIRMIC RM process (see slide 1) – Risk Maturity (Hopkin,2012) (see slide 1) – Risk Identification Matrix (see slide 1) – Scenario Planning model (see slide 1) – The IRMs A-B-C approach (see slide 2) – Risk-aware culture:LILAC (see slide 2) Risk mitigation models/ Risk Management Action Summary (see slide 2) Grand Strategies – Challenge what is usually done Specific Strategies/Plans – signed agreement of all involved Avoidance, Sharing, Reduction, Offset and Contingency Contingency Plan (Cost, Time) should Risk occur Cost of Action < Cost of Risk and Contingency Recovery - Turners Incubating Disaster Model (see slide 3) - Isomorphic Learning (see slide 3) Hide
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