Plan for Enterprise Risk Management

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Project 1 Part 1 – Plan for enterprise risk management “ Describe the organisation’s current risk management policies, procedures and processes and comment on the strengths and weaknesses of these arrangements. ABC Education is committed to complying with legislative requirements on risk management as part of a cycle of continuous improvement so as to ensure a safe workplace and quality training outcomes. As required by ANTA and outlined in the AQTF, ABC Education must: “include documented procedures to identify and manage risks concerned with compliance with the Standards for Registered Training Organisations and to correct and prevent any failure to comply with the Standards and the RTO’s quality system, policies or procedures.” Describe the scope for risk management process that you will conduct This procedure describes the process for risk management and provides a generic procedure for assessing risk within ABC Education. It describes how risk management is linked to other compliance activities including the standards for managing risk in the Australian Quality Training Framework (AQTF), the international standard for quality management systems (ISO9001: 2000), and the requirements under the OH&S Act (2000), its associated Regulations (2001) and other Australian Standards. Discuss the impact that each of the following has on the organisation’s approach to risk management The political environment in a country affects business organizations and could introduce a risk factor that could cause them to suffer a loss. The political environment could change as a result of the actions and policies of governments at all levels, from the local level to the federal level. Businesses need to be prepared to deal with the fallouts of government politics In a strong economy, nearly all businesses enjoy greater prosperity. Disposable income is high,

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