Risk Management in Business Operations

• Majestic Cleaning Company: Identify and discuss three types of risk, three hazards, and three perils in the work environment.
• Majestic Cleaning Company: Identify and discuss three risk control methods that Majestic Cleaning Company can use to manage the risks identified.

Retail Expansion Risk Management

• A retail company is expanding its operations to a new location including hiring new staff, investing in new equipment, and managing increased inventory.
• Key steps should be considered including risk identification, risk assessment, risk prioritization, risk treatment, monitoring, and review.
• Identify and analyze the potential 5 main risks associated with this expansion.
• Determine risk treatment techniques to mitigate each of the identified risks and justify the reasoning.
• Provide advice to the company regarding managing similar risks in the future.

Highway Construction Risk Management

• A construction company is building a new highway including complex geological conditions, tight deadlines, and multiple stakeholders.
• Classify the types of risks that the construction company is exposed to.
• Identify the types of assets of the organization or other stakeholders that may be exposed to risk.
• Use a risk identification tree to identify and prioritize the top three risks to the project, and develop a risk response plan for each.