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My Introspective

by Laurus Nobilis
My BrainCast

Strategic Management

Risk Universe: People Assets

 

Risk Register in Risk Management

 

 

 

 

 

What is the role of risk register in preparation for potential risks? How the risk weight and impact should be calculated?

 

Posted: Mar 2012


 

 

 

 

 

 

 

 

 

RISK UNIVERSE ASSET CATEGORY: PEOPLE

1. Availability of Talented People: Inability to attract or retain appropriately skilled personnel threatens the achievement of critical business objectives. Possible causes include market conditions, poor morale e.g. as a result of work pressures/ understaffing/ business consolidation/ restructuring, lack of loyalty culture, inadequate training and development for succession.

 

2. Employee behaviour: Unethical behavior/ failure to comply with Chart of Authority/ Code of Business Conduct leads to business disruption, fines and failure to achieve business objectives.

Risk Universe People Assets

 

3. Community relations: Local issues e.g. environmental emissions, water abstraction, publicity, sponsorship decisions, plant closure cause adverse effect on community relations leading to serious impact on reputation and business performance.

 

What is the role of risk register in preparation for potential risks? How the risk weight and impact should be calculated?



4. Health and Safety: Failure to provide a safe working environment for its workers exposes the organisation to compensation liabilities, loss of business reputation and other costs.

 

5. Security: Failure to provide adequate security for personnel, prevents achievement of key business objectives

 

6. Outsourcing: Over reliance on outsourcers/ failure of outsourcers to perform tasks to an adequate standard undermines brand and trademark, and prevents achievement of business goals.

 

7. Communications: Ineffective communication channels, or inconsistency of messaging prevents operations from achieving objectives. 8. Change management: Inability to manage necessary change within the business

 

 

Risk Register Tool - FREE DOWNLOAD

 

Related Reading:

Risk Analysis
Risk Register as a Tool of Risk Management
Risk Universe: People Assets
Risk Universe: Product and Marketing Assets
Risk Universe: Infrastructure Assets
Risk Universe: Information Assets
Risk Universe: Finance Assets

 

 

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