7 Pages
1797 Words
Introduction of Risk And Issue Management Assignment
Risk management is defined as the process or system that helps the company manage and complete the project positively and successfully. When the risk during the project is assessed in advance, it will provide a better opportunity for the company to accomplish the project. The current project is based on installing the fire system in Pods for the three different types of community sites. So the current project will outline the effective kind of activities which need to be implemented for the risk management plan. In case these activities will not be followed then the possible risk will not be mitigated. Thus, the study will assess the actions to be taken to mitigate the risk. It will also outline the result of it and the reflection on the learning from the project. At last, the improvement areas will be outlined which will help in further improvement of the project.
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Main Body
Situation
In the current situation, a risk management plan needs to be prepared, which includes the process used to identify the risk and the response to the risk so that its effects can be controlled. In the current situation, a fire system installation in Pods needs to be done within the three different community sites. These sites include Beckett House 10 floors, York Road 4 floors and Great Dover Street 1 floor. The reason or purpose of installing the fire system is that the fire can be managed well and effective compliance with the safety of the staff and patients is ensured. In case of any fire break, the must be a clear detection sound so that the safe evacuation of the people can be done. But in the current situation, there is a delay in the process as the contractor for the raw material has still not been decided (Danzi, Fiorentini and Marmo, 2021). Thus, as a result of this, there is a delay in starting then the whole process will get delayed and it will be impacting the success of installing the fire system. Within the health care setting it is necessary that the effective type of the system be present so that in case of any emergency a better solution can be provided. In case of any fire breakage within the healthcare setting, a clear structure for managing the fire must be present. When the clear process is present then it will assist the company in managing the working well so that the negative effects of the fire can be reduced.
Task
It includes emphasising the process of making the risk management plan. This is a process through which clear steps are designed which emphasise the fact that how the risk needs to be managed and treated so that it cannot negatively impact the working. Thus, for this effective type of activities are allocated to every person involved in the process of risk management (Bag and Ganguly, 2023). Further, by referring to the current situation of delay in finalising the contractor, the major task is to take tender and quotation from the different types of suppliers. In case better quotes are provided then this will improve the overall working and ultimately the fire system will be implemented into the healthcare setting appropriately. Also, a particular date will be given to every contractor or supplier so that the quotations are provided till that particular time and there will not be any delay in finalising the supplier (Kelly et al, 2021). Moreover, the process of getting the tender will also be very simple, that is the company proposing the tender has to mail the quotation on the official website of the company and after getting all the quotations, the best one will be shortlisted and selected.
Action/Activity
Along with the risk of getting delayed due to the selection of the appropriate contractor or the procurement there are certain other risk as well which can impact the working of the company. The different types of risk which the healthcare setting faces while installing the fire system are many and these are discussed in the following risk register which is described below-
| Risk |
Likelihood |
Impact |
Mitigating strategy |
| Delay in selecting the contractor- this is the major risk which is faced by healthcare settings. It includes the risk that the contractor or the supplier of the material is not easily available and as a result, there is a delay in the project starting up. |
High |
High |
The mitigating strategy for the delay in the selection of a contractor is to take the tenders within a specified time limit so that the tender can be selected on time and the work of installing the fire system takes place on time (Fiorentini and Dattilo, 2023). Also, the details of all the contractors can be uploaded on a particular system so that they can be directly contacted for future tenders and contracts. |
| Strategic risk- this is the risk that the business faces due to the sudden change in the strategy of the company. It is majorly faced when the intended outcome of implementation of any strategy is not attained. |
Low |
Moderate |
For the mitigation of the strategic risk, all the strategies must be timely rechecked according to the changes in the market so that any relevant change in the market can be adapted in case it is required. |
| Financial risk- this is another risk which may be faced while installing the fire system. Within this risk, the issue might come that finance is not easily available and might be possible that it is not available on time. |
Moderate |
High |
To mitigate the financial risk, there is a need to develop a contingency fund so that it can be used in case of emergency and the need for the healthcare setting can be met easily (Altaie, Muhsin and Dishar, 2023). |
| Technical risk- this is also another type of risk in which the healthcare setting may be facing the issue relating to the technology becoming obsolete and this may affect the working of the company to a great extent. |
Low |
High |
This risk can be minimised by installing a good research and development department which will be continuously researching the external environment so that the latest technology can be implemented into the company and the working can be improved well. |
| Operational risk- this is the risk which arises at the time of implementing the operations or the planned strategy. |
Low |
Low |
To mitigate the operational risk it is necessary that the time-to-time checking of the operational process need to be set so that the proper working of the operational process can be ensured and the ultimate objective will be attained well. |
Result
With the implementation of the above risk register and the mitigating actions it is mandatory that the actions are undertaken in the intended manner only. This is necessary for the reason that when the intended action taken will be good and appropriate then all these risks will be mitigated well and ultimately the overall objectives will be accomplished (Askaripoor, Kazemi and Marzban, 2020). Hence, it is mandatory for the company that effective type of actions are implemented so that all the possible risks in the current installation of the fire system will be reduced. Hence, it is mandatory for the company they take all these actions so that the overall working can be improved.
Reflection
With the help of the above study, analysing the assessing the possible risk in advance is very necessary. This is because of the reason that when the risk is assessed well then the corrective actions will be identified appropriately and ultimately the overall working will be improved well. With this, I learnt that having good critical thinking and analytical skills is very necessary. In case these skills are present well then it will help in effective analysis of the situation and all the possible risks will be analysed well (Fazel et al, 2022). Moreover, with the study, I analysed that there is a requirement to improve the negotiation skill a little. When effective negotiation skills are present then it will result in the fact that I will be well-versed in negotiating with the suppliers and ultimately the overall work will be improved.
Improvement
Hence, for development, there is a requirement to enhance negotiating skills. Thus, for this, there is a high need to work on improving communication skills (Wang et al, 2021). It is due to the reason that when the communication skill is better then automatically the person will be in a better position to communicate with the supplier and try to influence them and make them agree on the terms and conditions of the company.
Conclusion
At last, it is inferred that risk management is very necessary for the success of the company and for accomplishing any of the projects. In the current study, the project of installing the fire system in three different sites is undertaken. However, the major risk faced is in the selection of the contractor for supplying the material. Thus, for this, all other possible risks are also identified like operational risk, financial and many others. At last, it was analysed that good critical thinking skills are present but there is a requirement for improving negotiation skills.
References
Books and Journals
- Altaie, M.R., Muhsin, I.F. and Dishar, M.M., 2023. Managing the Utilization of Preventive Measures for Fire Resistance in the Hospitals. Civil and Environmental Engineering, 19(2), pp.520-531.
- Askaripoor, T., Kazemi, E. and Marzban, M., 2020. Fire risk assessment and evaluation of the effectiveness of fire protection actions in a combined-cycle power plant. Iranian journal of health, safety and environment, 7(1), pp.1413-1420.
- Bag, S. and Ganguly, K., 2023. Mitigation of Fire Hazards in Hospital. In A Guide to Hospital Administration and Planning (pp. 193-229). Singapore: Springer Nature Singapore.
- Danzi, E., Fiorentini, L. and Marmo, L., 2021. FLAME: a parametric fire risk assessment method supporting performance based approaches. Fire Technology, 57(2), pp.721-765.
- Fazel, M., Ardalan, A., Ostad Taghizadeh, A. and Yaghoubi, T., 2022. Investigating fire protection condition in the units of Imam Khomeini Hospital, Tehran, Iran. Hospital Practices and Research, 7(1), pp.23-27.
- Fiorentini, L. and Dattilo, F., 2023. Fire Risk Management: Principles and Strategies for Buildings and Industrial Assets. John Wiley & Sons.
- Kelly, F.E., Bailey, C.R., Aldridge, P., Brennan, P.A., Hardy, R.P., Henrys, P., Hussain, A., Jenkins, M., Lang, A., McGuire, N. and McNarry, A., 2021. Fire safety and emergency evacuation guidelines for intensive care units and operating theatres: for use in the event of fire, flood, power cut, oxygen supply failure, noxious gas, structural collapse or other critical incidents: Guidelines from the Association of Anaesthetists and the Intensive Care Society. Anaesthesia, 76(10), pp.1377-1391.
- Wang, L., Li, W., Feng, W. and Yang, R., 2021. Fire risk assessment for building operation and maintenance based on BIM technology. Building and Environment, 205, p.108188.
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