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Key Topics
Requirement
Risk assessment plan preparation.
Solution
Introduction
Risk Assessment Plan is beneficial for identifying the probable perils and further preparing a plan for evaluating the depth of the impact (Devlin, 2005). The primary purpose of the project should be the identification of the evident risks, followed by preparation of a suitable strategy or plan that will be beneficial for handling the scenario without impacting the continuity of the business. The hazards can be of a plethora of forms, varying from natural to a man-made hazard. Natural hazards include hurricane, flood, etc. and the man-made hazards could be informed of outage because of system-mishandling. Risk Assessment aims to guide the organizations regarding the abrupt occurrences of any risks whether anticipated or not anticipated.
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Outline for the Risk Assessment Plan
The outline of the assessment plan is mentioned below:
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a) Criteria Establishment for the RA.
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b) Applying the necessary criteria for the process of data collections and concerned resources.
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c) Consulting the senior management for indulging the key stakeholders in the process.
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d) Identification of group who would be responsible for handling the whole process from planning to the implementation.
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e) Selection of the critical assets that are required for the implementation.
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f) Identification of all the three products provided by the organization along with the related technologies which would be imperative for the management.
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g) Assessing the evident risks along with the identification and assessment of sudden and unidentifiable risks.
Scope and Boundaries for the Risk Assessment Plan
The scope of the risk assessment plan is mentioned below:
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a) Preparation of the goals and objectives;
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b) Preparation of the list of responsibilities and identification of the individuals;
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c) Identification of the areas to be included and to be excluded;
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d) Preparation of RA on the basis of Time and Location;
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e) Preparation of the methodologies for assessing the risk.
Summary of Risk Assessment Plan
The risk assessment plan is beneficial for the organization to assess the risks and for the preparation of the plan for mitigating the risks that have been identified. Further, the allocation of personnel who plays a critical role in the successful execution of the decision that would be made during the risk management time slot. (Shaw, 1999).
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Place Your OrderKey Roles and Responsibilities
The key roles and responsibilities that should be delegated to the individuals or the department of the organization for planning and proper handling of the risks are mentioned as follows:
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a) Identifying a Risk Manager, who would be responsible for handling all the issues at hand, from planning to the implementation.
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b) Risk manager would be responsible for acting like the link between the risk management team and the management.
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c) Constituting a team that would be responsible for assessing the risks and for facilitating the implementation.
Schedule for Risk Assessment Process
Mentioned below is the schedule of the Risk Assessment Process (Nolan, 2011):
a) System Documentation Phase
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a. Setting the boundary for selected system (5 Days)
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b. Record system identification information (4 Days)
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c. Document system purpose and description (3 Days)
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d. Document the system security level (5 Days)
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e. Looking at the validated process along with their controls(6 days)
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f. Review the acceptance data(3days)
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g. Review Customer Complaints(4 days)
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h. Reviewing the public information(4 days)
b) System Risk Determination Phase
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a. Identification of the threats and vulnerabilities (10 Days)
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b. Description of the Risks (3 Days)
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c. Identification of the existing controls (4 Days)
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d. Determination of likelihood of occurrence (4 Days)
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e. Determination of severity of impact (5 Days)
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f. Determination of the risk levels (5 Days)
c) Safeguard Determination Phase
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a. Recommend controls and safeguards (4 Days)
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b. Determine residual likelihood of occurrence (5 Days)
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c. Determine residual severity of impact (5 Days)
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d. Determine residual risk level (5 Days)
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e. Installation
d) Report presentation, service report, archiving and sign-off (15 Days)
References
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Devlin, E. (2005). Business resumption planning. Boca Raton: Auerbach.
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Shaw, C. (1999). Use of risk assessment panels during revision of the Tongass land and resource management plan. Portland, Or. (333 S.W. 1st Ave., P.O. Box 3890, Portland): U.S. Dept. of Agriculture, Forest Service, Pacific Northwest Research Station.
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Nolan, N. (2011). Quality Risk Management - The Medical Device Experience (1st ed., p. 22). Boston: PDA. Retrieved from https://www.pda.org/docs/default-source/website-document-library/chapters/presentations/ireland/quality-risk-management---the-medical-device-experience.pdf?sfvrsn=6
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