Risk Management Plan

Introduction

Table of Contents

It is imperative to beginunderstanding what a risk management plan is. Many scholars have endeavored to define and explain risk management depending on the environment the risk applies. A risk management plan is that which is effective with the mitigation plans that apply to a given organization at a particular time. An efficient and effective risk management plan is the one that reflects a wide range of perspectives and plans in an organization. In addition, it expresses the nonprofit’s belief in and support of risk management. This paper is going to discuss the effect of risk management plan, which has failed to be enacted by the organization that has been given the proposal (Zuckerman M J, 2005).

When the proposed risk management plan has been turned down chances are, either the proposal mitigation strategies were not adequate to cater for the organization’s need or the mitigation strategies were already in place so they cannot be re-enacted. As if not enough, probably the monitoring and optimization of the proposed risk management did not meet the standard required by the organization. Therefore, with all this factors pilling up the effect would be going back to the drawing board and re-structure another proposal that accommodates all those loophole that were identified previously(Zuckerman M J, 2005).

Additionally, this proposal can be rejected and reassigned to someone else who would meet all the required mitigation strategies. What’s more, the organization can also take up the initiative to amend the proposal through placing the needed mitigation strategies that were supposed to be included. On a different note, in case my mitigation strategies suitable for the organization but due to incompetent reason they got rejected the organization would suffer with the predicted risks due to ignorance. Finally, I would fully withdraw my proposition and look forward to preparing a new risk management plan.

Reference:

Zuckerman M J (2005) what is a risk management plan? Retrieved on 12/4/13 from

Http://www.nonprofitrisk.org/library/newsletter/0905.pdf

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