Week 10 – Life, Health, and Income Exposures (please read all requiremnets)

this a term paper and its the final  so this has to be great i got a bad grade for the draft. the draft is attached. Your job is to take the attached documnet and fix it with what the teacher wants.

 

Here is what she wants:

This week you will submit the final version of your Risk Management Analysis Term Paper. It is highly recommended that you utilize the feedback from your two draft assignments to revise and improve your paper.

Remember your paper should consist of three separate components.

 Scenario Expansion Only basic information has been provided for each company. You will need to generate a list of possible questions that should be asked to complete the assessment. Include this list in the paper. You may need to add to the scenario to illustrate why these questions are important. Be sure to clearly address the risks inferred by the questions you generated. Risk Analysis Analyze a wide variety of risks that your company may encounter. Be sure to look at generic risks, specific, risks, and those created in your scenario expansion. In your analysis, also be sure to address any insurance issues that may play a part in the management of risk.Recommendations and Risk Management Plan Based on your analysis, prepare a short risk management recommendation to the person or group in charge of the business. You should include information on how risks should be dealt with and how the company should manage their risks overall.

Think about your scenario and really explore it. If you wish, you may interview people in a similar business to get their suggestions for the paper. If you do this, please note it in your paper as well. If you refer to any research sources other than our class textbook, please use the proper notations. The paper has no assigned length, but be sure to be thorough. The paper must be double spaced.

  

also attached is the grading rubics on how i did for my draft please ensure i get better than the grade of 52

      

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= 6 pts

1.5

Risk Management and Insurance	NAME:
Risk Management Analysis Paper
Poor	Fair	Good	Excellent	Comments
Criteria	3			4
Written: Grammar, Spelling & Organization	Errors prevent reader from understanding paper	Major mistakes, but do not distract from content	Minor mistakes in spelling and/or grammar	Very few mistakes, if any	Maximum points 4 x .5 = 2 pts
Weight = 2 pts
Expansion of Scenario	Few additional risks/situations are listed or explained	A fair amount of additional risks/situations are listed or explained. Risks are not diverse.	A large number of additional risks/situations are listed or explained	A wide variety of risk classifications are thoughtfully and thoroughly covered and explained.	Maximum points 4 x 1 = 4 pts
Weight = 4 pts
Risk Analysis	Few or only basic risks are analyzed.	A fair amount of generic and specific risks are analyzed. Risks are not thoroughly analyzed.	A large number of generic and specific risks are analyzed along with some of those created in the scenario expansion.	A wide variety of risk classifications are thoughtfully and thoroughly analyzed, including specific, generic, and those created in the scenario expansion.	Maximum points 4 x 2 = 8 pts
Weight = 8 pts
Recommendations and Risk Management Plan	Recommendations are severely lacking or risk management plan not included.	Partial or incomplete recommendations and risk management plan.	Recommendations and risk management plan present but not complete or insightful.	Thorough and reflective risk management plan and recommendations for risks.	Maximum points 4 x	1.5
Weight = 6 pts
Total Points	______ out of 20 points	11.5

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RunningHead: TERM PAPER DRAFT

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Running Head: TERM PAPER DRAFT 3

Term Paper Draft

Eddie Feliciano

Rasmussen

Author Notes

This Term Paper is being submitted on August 30, 2013, for Eddie Feliciano
B249/RMI2011

Risk Management and Insurance

Term Paper Draft

Knowing the level of risk as expected during a certain period of time can help prepare contingency plans to prevent or minimize such occurrences. It’s a critical aspect which is mainly analysed through risk assessment which seeks to quantify expected risk in several levels. Cabbage Patch Cookery is not an exception. From the expansion of operation the business may encounter various risks like.

Political risks- come about as a result of the following, Change in the political climate, change in legislation, lack of sufficient insight into the necessary permits required, health and safety, ignorance of the safety precaution. A country’s governance may affect the operations of an organisation. This is due to restrictions towards certain practices which are aimed at ensuring that the citizens are safe and there is ongoing development in most sectors. Political risk requires an organisation to obtain necessary permits, keep up to required safety standards, and obey laws and regulations in their areas of operations.

Social risks- may be internal or external. Internal risks arise from within the organisation, whereas external risks arise from outside the organisation. Some of the sources of social risks are; Damage as result of work performed on third party property, strikes and Lack of good communication with the community directly affected by the project output. These sources of risks arise from human activities that may be due to unintended consequences of activities undertaken or decisions made for other distinct purposes or they may come as a result of intentional harm such as fraud or terrorism.

Operational risks- are as a result of disorganised or inaccurate record keeping, out-dated or faulty IT systems, and interruptions to your supply chain. Mainly, disorganization will cause operational risks. A confused work environment without supervision and irresponsible personnel interfere with the operations of an organization. The management should ensure there is free flow of work, set backup procedures in-case of interruptions, and good record keeping for future references to eliminate operations fraud and lags.

Zoning risks- emerge from three major sources namely; Unusual climatic conditions, additional or heavier pollution or contamination of the location, lack of or insufficient estimate of compensating environmental measures. Outcomes from natural phenomena are risks only because they impact on the well-being of humans or on what is regarded as important to humanity. The above sources affect decisions made regarding lifestyles, cultural practices and beliefs.

In terms of insurance, insurers may refuse to insure some risks like zoning risks which will include natural catastrophes like earthquakes.