CMGT 442 Individual: Risk Information Sheet || Construction Management Assignment Writing Services
CMGT 442 Individual: Risk Information Sheet
Create a Risk Information Sheet for at least five potential risks that should be considered. At least three of the risks you choose should be business continuity and IT disaster recovery related. As part of this, consider man-made and natural risks that might apply to this particular situation.
Please note the following:
- The risk description should fully describe the risk
- The probability is the likelihood that the risk will occur (i.e., low, medium, or high)
- The impact is how the organization will be effected if the risk does occur (i.e., low, medium, or high)
- The rationale should explain the reasons for your probability and impact assessments
- The mitigation strategy should explain how each risk will be addressed
- There should be one risk information sheet for each risk identified
- The risk information sheets can be completed in Word, Excel®, or PowerPoint®
The results of your assessment for each risk should be plotted in a Risk Matrix. One axis should be probability, while the other axis should be impact. The overall risk level will be the intersection of these two factors on the matrix. The risk assessment matrix can be completed in your choice of Word, Excel®, or PowerPoint®.
The following is an example of a risk matrix with certain accidents allocated to appropriate cells within the matrix:
|
Negligible |
Marginal |
Critical |
Catastrophic |
Certain |
Stubbing Toe |
|
|
|
Likely |
|
Fall |
|
|
Possible |
|
|
Major Car Accident |
|
Unlikely |
|
|
Aircraft Crash |
|
Rare |
|
|
|
Major Tsunami |
Risk Information Sheet
Name
Institutional Affiliation
Risk Information Sheet
The paper at hand addresses computer systems for the United nations in the Middle East. In this case, it creates a risk information sheet that presents five potential risks, which include business continuity and IT disaster recovery related.
Risk |
Description |
Probability |
Impact |
Rationale |
Mitigation Strategy |
Human error |
Mistakes that human resource make when conducting their duties in an organization |
Medium |
High |
Both probability and impact are medium and high respectively because human resource is key in the offered field. |
Training and seminars |
Data breach |
Data breach is referred as information infract |
High |
High |
Advance of technology has increased the probability and impact of data breach |
Adequate IT personnel to prevent data breach |
Single point of failure |
This is a situation where the failure of an element of a network surrounding would take down the rest of the available system |
Low |
Low |
Both probability and impact are low because the risk is not rampant |
Maintenance of equipment |
Inadequate resources |
Limited budgets as well as smaller staff to maintain, monitor, and enact disaster effort |
Low |
High |
The probability to inadequate resources is low because the firm has sufficient resources. On the other hand, in case the organization experiences inadequate resources, the impact is high |
Employment of adequate resources |
Response and recovery time |
The time taken to respond to a disaster, and this impacts profitability |
Medium |
Medium |
The impact and probability of response and recovery time is medium because the firm tries to achieve the set time to recover when a disaster occurs |
Timely response and recovery when a disaster takes place |
|
Negligible |
Marginal |
Critical |
Catastrophic |
Certain |
|
|
|
|
Likely |
|
Human error |
|
|
Possible |
|
Inadequate resources
|
|
|
Unlikely |
|
|
|
|
Rare |
|
|
|
|
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