Risk Management System For A New Company

Purpose

Write a risk management system for a new company.

A Risk management plan is crucial part in an organization to prepare for future risk and allow in estimating impact of risk. It includes the risk assessment matrix that allow in managing the consequences of the risk. The plan includes an assessment of the risk and evaluates on both positive and negative parameter (Schulte, et al 2012).  It is important to review the plan on regular interval which will permit in stimulating the planning and development.  Risk management plan includes implementation of a risk strategy helping in reducing the risk and its consequences. The project may be in terms of avoiding risk, controlling risk, accepting risk and transferring risk.  The report is regarding the risk management system for setting up interstate rail passenger operations in Australia. Following operation will be included “fleet of second hand locomotives and passenger carriages, maintenance facility and offices and passenger handling facilities”. The plan therefore includes features of the RMS, the business risk issues, including rail safety, OHS and regulatory compliance risks.

The plan has been developed in order to demonstrate compliance with the Occupational Health and Safety Management Systems, Victoria. It defines the role of employer in mitigating the risk and represents the role of occupational health safety in order to maintain business reputation. The railway and locomotive company has different set of risks associated to it. There are risks like business, commercial, safety, operational, financial, human resource risk that need to be eliminated. The purpose is to control the risk and collectively manage the standard in order to develop effectiveness in risk management and concern. This is mostly important in order to understand the effectiveness and better policies that are attached to systematic management (Gallagher, Underhill and Rimmer, 2003).

While addressing to the issues, one of the business risk is the compliance of the authority.  The evidences suggest that the occupational health safety is one of the essential factors in locomotive industry. There is process risk associated with the project.  The purpose is to undertaken measures while undertaking the safety of overall process. The overall risk assessment plan is to control risks regarding the staff fatigue, whether or not their staffs’ carries out safety critical work as defined in the manual.  The complexities of work carried depend on the arrangements of work carried out; in particular whether shift work, significant overtime or safety critical. The purpose is to attain growth and managing effective purpose. The overall purpose is to attain the goal and attaining the significant goals and managing the long-term effective purpose. The changes are therefore necessary from the point of view of generating better roles and ensuring that the business gain better objectives((Lingard and Rowlinson, 2004). These systematic growth and development is necessary to undertake the challenges and putting forward the necessary policies. The quantum of risk associated with the process need to be dealt with the below mentioned plan:

Business Risk

The commercial risk is regarding a greater focus and harnessing of competitive forces to gain productivity. Commercial risk is regarding the prices of the raw material purchased from the third party. For the reason, there is a need to implement a risk management system regarding the process. The purpose is to organize systematic process and allocating the most feasible and effective risk management factors like meeting the expectations of the third party involved in purchases. The purpose is to understand the appropriate interface and coordinating the plan in a well-organized way (Underhill and Quinlan, 2011). It is necessary to deal with the safety purpose of the employees which will help in coordinating the functions in the appropriate way. The changes in the risk management plan are to organize the factors in the best possible way. It is important from the point of view of organizing the changes and managing the factors like Occupational safety. It is therefore important to sustain the changes and coming up with the most appropriate strategy (Gallagher, et al 2003).

As per (Work Safe Victoria2002) the manufacturer has to undertake the design and construction work in accordance to the railway locomotive function. The example of safe place control is to reduce risk in maintenance, cleaning and other ancillary functions. The safety risk as per the act are regarding the employee’s health and saving them against any kind of loss. The act further promotes estimation, and evaluation of the risk that are associated with the manufacturing unit. In the given situation the focus is to provide a primitive planning at an early stage that helps in mitigating the risk. The goal of the organization is to maintain the balance.  It is essential to manage the purpose in order to initiate the effective goal and managing the purpose in order to undertake the total quality management. It is necessary to undertake the role and managing the activities in order to promote the safety of employees (Work Safe Victoria 2002).

The changes in the work process are important to be handed in a way that helps in granting well-being. From the point of view of growth and development, it is necessary to manage the effectiveness and looking onto the changes in the business process. The progress of the business highly depends upon the well-being of its employees. However, ignoring their well-being affect the individual largely hence creating gaps (CASA 2012).

Commercial Risk

To establish the relationship in between the OHS and the HRM it is evident to address the following issues:

• To address the extent to which HRM principles, policies and practices are influenced
• To create a consensus in between the Human Resource System  and OHS
• To create effective relationship in between the employees,
• The evidence pertaining to the business risk and safety is to assure growth and managing systematic changes.

The procedure is to gain quantum of growth and managing the organizational effectiveness. The purpose of a business concept is to deal with the situation and undertaking the most expected process. The changes were undertaken in order to manage the organizational effectiveness and managing the progress in order to lead the work.  The purpose of the organizational goal and managing the effectiveness is to match up with the capacity and procuring the objective which will help in allocating the functions (Loosemore et al 2006). The systematic authority and application of the duty at the initial stage is to match up with the expectations and allocating the balanced growth. The systematic changes and development are therefore important enough to retain the progress. The purpose is to initiate the growth and underwent the changes. It is important to match up the expectations in order to attain effectiveness. The purpose is to deal with the most effective changes and allocating the best possible way. The OHS is to manage the effectiveness in order to assist the changes in managing the changes. The purpose of managing workplace safety is to attain the utmost goal and attaining effectiveness. The challenges are therefore managed to be settled through the process of gaining adequate result. The overall process is to manage the changes and attaining the best part in order to gain effectiveness. The preparedness of managing and acquiring the Work health safety is to consider all risk (Maki and Winder 2008).

The Victoria government has therefore looked upon the changes in order to make mandatory changes in acquiring effective goals. The purpose is to undertake the systematic planning procedure and managing the tasks thereof. The purpose of managing the changes is to undertake the responsibility and putting forward the best role and acquiring effectiveness. These changes are essential to acquire a better role and functions in order to gain adequate results. The most important part is to ensure growth and reflect positive aspect in the way the rules and regulations are incorporated (Work Safe Victoria 2008). The well-focused role is to ensure long-term growth and managing effectively in terms of employee safety. It is therefore important from the point of gaining effective roles and managing the growth in terms of occupancy (Underhill and Quinlan, 2011). These changes are therefore important to be focused with a focused on achieving long term sustainable results. The changes are therefore effective only after matching the recommendations from the employees and matching up to their expectations. This is necessary for assisting the changes and acquiring the knowledge in order to focus on long-term effective goals. The general characteristic of OHS is to look upon the health and safety of the employees on the basis of ethical, economic and legal ground. This somehow helps inn guaranteeing long-term sustainable goals and acquiring effective focus. The challenges are therefore important to match up to the expectations of the employees and guaranteeing the growth in order to match up with the individual requirements (Viner 2015).

Safety Measures

The progress of the organizational changes and development and progress is however necessary to gain manage the long-term productivity and attaining quality. The purpose is to maintain the changes and gearing up with the regular changes and furnishing the progress. The sustainable resources and management in terms of WHS is gearing up with the organizational progress. The sustainable changes and management of growth is inevitable from the point of view of gaining adequacy (Schulte, et al 2012).  

Recruitment – This is important from the point of view of recruiting employees directly.

Training- The purpose is to train the employees about the organizational safety measures and regulate the effectiveness at work.

These challenges are important to attain quality and progress and managing the growth in terms of progress and effectiveness.  It is necessary to manage the effective role and managing the role and allowing WHS. It is important t manage the role and ensuring the long-term progress in order to manage the better role.  It is necessary to maintain the progress the possibility. It is necessary to initiate the changes in order to attain progress. It s more or less related to generate proper effective way. The process is to attain progress.  The purpose is to attain the effective role and undertaking the better policies in order to gain better and effective role. This is important to undertake the changes in order to match up the expectations.

The function of operational department is to understand the risk and formulate the policies according to the requirements. The progress of the organization in terms of managing human resource policies is important while incorporating the important points in order to seek employee’s safety. This process will however help in managing the challenges and matching up to the expectations in order to deal with the productivity. The purpose is to match up to the individual expectations. The purpose is to manage the effectiveness in order to evaluate the progress. The factors are important to organize the risk related issue and matching up with the individual expectations in order to deal with the effective purpose. The purpose is to manage the changes and allocating the best possible way in order to deal with the focus. The challenges are important to maintain the progress in order to allocate the effective work health safety.

The financial department in this context has to look upon the challenges and to progress according to the organizational needs. The program is therefore more or less created to match up to the requirements of the individual which will help in guaranteeing the changes and delivering better services. The purpose is to attain the progress and manage to review the policies and assisting the Occupational health safety. This is important from the point of gaining effective role and managing the progress in order to maintain growth. The purpose is to ensure equilibrium growth and sustaining the changes in order to match up with the individual expectations. These changes are important to meet the ineffectiveness while gearing up with the changes in terms of WHS.

Conclusion

To conclude, the plan includes an assessment of the risk and evaluates on both positive and negative parameter.  It is important to review the plan of regular interval which will allow in stimulating the planning and development.  These changes are important enough for managing the accuracy and attaining effective role. The purpose is to attain the industrial support and adding value to the organization. It is necessary to manage the effectiveness and meeting the response in order to gain role and responsibility.       

References

CASA 2012 RMS Resource Kit, Australian Civil Aviation Authority, Online. Available at: https://www.casa.gov.au/scripts/nc.dll?WCMS:STANDARD::pc=PC_101005 Accessed on: 4 April 2018

Gallagher C., Underhill E. & Rimmer M., 2001 Occupational Health and Safety Management Systems: A Review of their Effectiveness in Securing Healthy and Safe Workplaces, Safe Work Australia. Online. Available at:https://www.safeworkaustralia.gov.au/sites/SWA/about/Publications/Documents/127/OHSManagementSystems_ReviewOfEffectiveness_NOHSC_2001_ArchivePDF.pdf  Accessed on: 4 April 2018

Gallagher, C., Underhill, E. and Rimmer, M., 2003. Occupational safety and health management systems in Australia: Barriers to success. Policy and Practice in Health and Safety, 1(2), pp.67-81.

Haimes Y. 2009, Risk Modelling, Assessment and Management, 3rd Edition, John Wiley & Sons,

Lingard, H. and Rowlinson, S., 2004. Occupational health and safety in construction project management. Routledge.

Loosemore M., Rafery J., Reilly C., & Higgins D. 2006, Risk Management in Projects, 2nd Edition, Taylor and Francis,

Makin A. And Winder C. (2008), A new conceptual framework to improve the application of occupational health and safety management systems, Safety Science Volume 46, Issue 6, July 2008 pp935 to 948

Makin A. And Winder C. 2008, A new conceptual framework to improve the application of occupational health and safety management systems, Safety Science Volume 46, Issue 6, July 2008

Schulte, P.A., Pandalai, S., Wulsin, V. and Chun, H., 2012. Interaction of occupational and personal risk factors in workforce health and safety. American journal of public health, 102(3), pp.434-448.

Stellman, J.M. ed., 1998. Encyclopaedia of occupational health and safety. International Labour Organization.

Underhill, E. and Quinlan, M., 2011. How precarious employment affects health and safety at work: the case of temporary agency workers. Relations Industrielles/Industrial Relations, 66(3), pp.397-421.

Viner D. 2015 Occupational Risk Control: Predicting and Preventing the Unwanted, Farnham Publishing

WorkSafe Victoria 2002, Safety MAP Advanced Level Users Guide, . Online. Available https://www.worksafe.vic.gov.au/pages/forms-and-publications/forms-and-publications/safetymap-advanced-level-user-guide-doc Accessed on: 4 April 2018