Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can you help me with the Risk Management Plan? I would like to ask about a plan that will help make Burger Fuel out of

Can you help me with the Risk Management Plan?

I would like to ask about a plan that will help make Burger Fuel out of this situation (Cost risk from deterioration of raw materials and products. .) and help Monitor and review the management plan for a bit, along with an explanation. Thank you in advance.

image text in transcribed
-J .-l-...... a .. _. . '"'"U'l .._ -.... .- '_"U' _. .._ _"'U_"__' ... .-...- .- Plan: Burgerfuel needs to identify and understand their work- related health and safety concerns in order to avoid this risk. Employees of Burgerfuel can do so by completing an audit to assist managing their workplace health and safety concerns. The audit will begin with a review for continual improvements, followed by the identification and assessment of their possible risks; which fall under the health and safety at work act, such as dangers in the kitchen, clutter in walkways and public places, inside railing and shelf, and maintaining needed signage. The third step is to monitor the control measures and check for updates in the act, and the fourth step is to eliminate or reduce the risk. Management team then can create an action plan for each risk. If this risk occurs, Burgerfuel must execute their response plan based on the nature of the incident and pay the appropriate penalties. if applicable. Monitor and Review: To help monitor the progress of the risk management plan and ensure that the plan helps to minimise the possible risk. The above plan must be conducted once a year, at the beginning of the first week of february, or when there is a major change in the regulations for health and safety. The risk management plan should be reviewed once every two years, during the opening week of the new financial year, or if there is a substantial change in the business or a risk-related incident. The Burgerfuel management team should meet to go over the Risk management Review questions, which are the following details and questions. a Examine whether the necessary controls and action plan are being carried out correctly. 0 Examine the previous possible risks identified by management and determine whether these possible risk levels have changed or if there are new possible risks since the last review. If there has been any change in the likelihood or impact of the event? All of this has to be recognised and represented in the revised risk register. There are no steps necessary if no changes are made. a Risk analysis - What are the new and emerging risks, which could pose a threat to the health and safety regulations? Explanation: The reason I designed the risk management strategy this way is because there are many possible dangers within Burgerfuel that are of health and safety concern and must be handled with caution so that they do not hurt consumers on the premises. Burgerfuel can find any possible threats within its vicinity that fall under the health and safety at work legislation by organising the strategy this way. They can then devise contingency plans for each risk they identify. Another reason I did the risk management plan the way I did is that having a risk management strategy and keeping track of all the risks allows Burgerfuel to become more sophisticated, focused, and successful in risk management

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

MIS Essentials

Authors: David M Kroenke

1st Edition

0136075606, 9780136075608

More Books

Students also viewed these General Management questions

Question

3. To retrieve information from memory.

Answered: 1 week ago

Question

2. Value-oriented information and

Answered: 1 week ago

Question

1. Empirical or factual information,

Answered: 1 week ago