Dry Cleaner Risk Analysis and Risk Register

In: Business and Management

Submitted By diaakhalefeh
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A REPORT ON THE ENTERPRISE RISK MANAGEMENT PLAN OF MH GROUP HOLDINGS

A risk is an event or condition that, if it occurs, may produce positive or negative effects on a company’s objectives. The risk management process therefore identifies, assesses, controls, monitors and reports the exposures that an entity faces. This report defines the exposures associated with MH group; how they will be identified, assessed and managed and also outlines how the risk management activities will be performed, recorded and monitored on a regular basis.
This report is presented by the Risk Manager to the Board of directors on the risk management analysis of the following entities of the group; MHA, USA-based professional baseball team and the Canadian textile manufacturing and distributing entity. The steps for accomplishing this are outlined in the following sections. The focus has been to identify pure risks rather than speculative risks. Government regulations and natural catastrophes??

1) Risk Identification and assessment for MHA
The risk identification process entails the evaluation of environmental and operational factors as well as the organisational structure. Information is gotten from the financial reports, audit report, industry reports, site visits, employee questionnaires and contracts/agreements with contractors and suppliers.
The holding’s revenue has tripled since 2001; a detail examination of loss histories would add valuable information to risk management analysis.
The assessment process is done by determining the frequency of occurrence and severity of the losses, if they occur. Prioritisation is done to ascertain what control measures to use for the various risks that have been identified.

The following loss exposures have been identified;

Pollution from highly toxic hazardous waste. Exposure could lead to environmental contamination (which causes illnesses)…...

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