BC057_English: Developing a Risk Register and Treatment Plan
The first step to managing organizational risk is to map and evaluate the risks which could directly or indirectly disrupt or harm the organization. The Business Impact Analysis [BIA] is a system by which to determine and evaluate the potential effects of an interruption of a critical business activity; culminating in a remediation report to address areas of non-conformity and need, while the Risk Register and Treatment Plan draws upon the principles of the BIA, and looks more broadly at all forms of risk, and the application of a hierarchy of controls by which to reduce the probability and impacts of their occurrence. A Risk Register and Treatment Plan can be applied for a location, program, department, activity, event, or for the entire organization; as such the system is scalable and can be adjusted to meet the unique needs of a singular need, up to organizational requirement. By establishing a systematic approach leaders, at all levels, will be better placed to understand, evaluate and articulate risks, and then take corrective actions by which to address them. PLEASE REMEMBER - Some modules offer language subtitles. Click the 'CC' button on the video player controls to select your language. WEAK INTERNET – If you have limited bandwidth, please ensure you select the lowest quality setting under the gear icon in the video player controls.