ST.

ANTHONY’S COLLEGE
Business Education Department

San Jose de Buenavista, 5700 Antique

Tel. No. (036) 5409238; 5400898; 5409971 Tel. No.: (036) 5409196
In SAC, we
Website: www.sac.edu.ph Email: info@sac.edu.ph; bused@sac.edu.ph care!

FM 303: RISK MANAGEMENT

ACTIVITY SHEET 2 (PRELIM PERIOD)

Name: JARIED O SUMBA Score:

Section: BSBA FM 4B

General Instruction: Read carefully the question and answer what is ask.
Please send your Activity 2 at the Google Classroom on or before Oct. 08, 2022 11:59PM. Your Activity 1
may be in image, pdf or word format. (40 points)

1. Think of a specific event of risk and identify on how to resolve such risk by applying the risk
management process below. Your answer should be in flow chart form.
 ST. ANTHONY’S COLLEGE
Business Education Department

San Jose de Buenavista, 5700 Antique

Tel. No. (036) 5409238; 5400898; 5409971 Tel. No.: (036) 5409196
In SAC, we
Website: www.sac.edu.ph Email: info@sac.edu.ph; bused@sac.edu.ph care!

1. Recognition of risks

Hazard identification is part of the process used

to evaluate if any particular situation, item, thing,
etc. may have the potential to cause harm. The
term often used to describe the full process is risk
assessment. Identify hazards and risk factors that
Experience have the potential to cause harm.
feedback
Information feedback
Customer
Feedback occurs
feedback is the
when outputs of a
information,
system are routed
insights, issues,
back as inputs as part
and input shared
of a chain of cause-
by your
and-effect that forms
community about
a circuit or loop. The
their experiences
system can then be
with your
said to feed back into
company, product,
itself.
or services.
 ST. ANTHONY’S COLLEGE
Business Education Department

San Jose de Buenavista, 5700 Antique

Tel. No. (036) 5409238; 5400898; 5409971 Tel. No.: (036) 5409196
In SAC, we
Website: www.sac.edu.ph Email:5.info@sac.edu.ph
Resourcing controls
; bused@sac.edu.ph care!
Risk control is the set of methods by which firms evaluate potential losses and take
action to reduce or eliminate such threats.

6. Reaction planning
3D
The risk response planning process is where you outline the strategies that you'll use to
manage negative risks (threats) and positive risks (opportunities). The plan will include the
identification of risks, tasks associated with responding to them and the risk owner who
take action.

2. Rating of risks

You can do what is called a Qualitative Risk Rating

which means you can simply decide whether the
risk is minimal, low, medium or high. Generally this
short hand form of risk rating is used to determine
which hazard should take priority over another in
terms of deciding what to do and when.

3. Ranking against risk criteria

The risk ranking for each hazard is then calculated by multiplying

the numerical value for probability of occurrence by the sum of
the numerical values for impact.

4. Responding to risks

Avoidance - eliminate the conditions that allow the risk to exist. Reduction/mitigation -
minimize the probability of the risk occurring and/or the likelihood that it will occur.
Sharing - transfer the risk. Acceptance - acknowledge the existence of the risk but take no
action.
 ST. ANTHONY’S COLLEGE
Business Education Department

San Jose de Buenavista, 5700 Antique

Tel. No. (036) 5409238; 5400898; 5409971 Tel. No.: (036) 5409196
In SAC, we
Website: www.sac.edu.ph Email: info@sac.edu.ph; bused@sac.edu.ph care!

7. Reporting on risk

Risk reporting is a method of identifying risks tied to or potentially impacting an

organization's business processes. The identified risks are usually compiled into a formal risk
report, which is then delivered to an organization's senior management or to various
management teams throughout the organization.

8. Reviewing and monitoring

Monitoring and review should be a planned part of the risk management process and
involve regular checking or surveillance.