Risk Management & Risk Assessment Term Paper

Total Length: 1382 words ( 5 double-spaced pages)

Total Sources: 9

Page 1 of 5

Communication strategies also focus on assisting the public with post-risk claims.

Broward County also places great emphasis on claims and liability, as well as protecting the financial assets of the county. Dangerous risk factors themselves, as well as the prevention of these, are of secondary importance. The same is true for the Enterprise Risk Management site of Carolina. The focus here is mainly on the institutions and the risks directly affecting the University. The emphasis here is also on finance, by including as many types of risk as possible under a single umbrella. This however tends to overwhelm other issues, such as stakeholders besides the University. The risks addressed focus only on those facing the university, without mention of possible risks to parties affiliated with the institution.

The Cuyahoga County Department of Central Services also addresses the issue of claims, but does so against the background of various categories of risk prevention. The Department appears very comprehensive in terms of possible risk types.

The remaining Web sites also mention issues of financial risk, but do not primarily focus on these. The State of Nevada Web site for example focuses largely on the prevention of both financial loss and physical risk. Its public education measures furthermore seek to educate the public on preventive measures in addition to liability and other claims. The focus here is therefore broader than the financial issue.

The Utah.gov site is also broader in scope than only finances, specifically addressing physical injury issues, along with the likelihood of financial loss.

Focus greatly on possible physical injury, loss, or death as a result of items such as candles, dangerous animals, etc. There is also an emphasis on lessons from the past, and preventing previously problematic risks in the future. Furthermore, the institution emphasizes taking personal responsibility for safety, and seeks to educate the public accordingly.

The remaining three sites, mentioned under #1, are focused on stakeholders and the risks that they face, together with financial loss issues. In this, they are therefore the most comprehensive of the Web sites investigated. In general, financial risk appears to be the greatest focal points when the Web sites are considered together.
3. The Broward County Risk Management Division web site focuses primarily upon liability and claims issues. Yet the opening paragraph states that the health and safety of county employees are also handled by the Division. This does not appear to be clearly delineated by the rest of the Web site content. I would therefore suggest that a more balanced perspective be adopted by the Division, and that clearer guidelines be developed for health and safety risks along with financial issues facing the country.

4. The L.A. County mission statement appears to only focus on the financial aspect of loss in terms of county-owned assets and investments. The "Overview" right before the Mission Statement however reflects a broader focus, involving countywide stakeholders. I would therefore change the mission statement to focus more broadly on risks facing not only the collective county, but also individuals and businesses within the county. I would therefore add that county employees and citizens are to be protected not only from financial loss, but also from physical danger. This would place greater emphasis on the issues raised in the overview of the risk assessment and mitigation duties mentioned.

Sources

Broward County. Risk Management. http://www.broward.org/riskmanagement/welcome.htm

Carolina Risk Management Services. Enterprise Risk Management. http://www.unc.edu/finance/risk/erm.htm

Chief Administrative Office. County of Los Angeles: Risk Management. http://cao.lacounty.gov/RMB/overview.htm

Cook County Illinois Bureau of Finance. Department of Risk Management. http://www.cookcountyrisk.com/services2.html

Cuyahoga County. Department of Central Services: Office of Risk Management. http://centralservices.cuyahogacounty.us/risk/default.htm

State of Nevada. Risk Management. http://risk.state.nv.us/

University of Nevada, Las Vegas. Risk Management and Safety. 2006. http://rms.unlv.edu/

University of Wisconsin-Madison. Risk Management. 2007, March 7. http://www.bussvc.wisc.edu/risk_mgt/risk_mgt.html

Utah.gov. Risk Guidance. 2006. http://www.risk.utah.gov/main/index.php?module=Pagesetter&func=viewpub&tid=1&pid=19.....

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