Discuss an appropriate risk response for each risk from part A (suggested length of 1 paragraph per risk) to reduce the possible damage to the company.

Risk Man

DescriptionAs a newly hired consultant, you have been tasked with the duties of creating and presenting a risk management/business contingency plan for your first client. The legal department and the IT department have both expressed concerns regarding the ethical use and protection of sensitive data, customer records, and other information systems content. In the interest of creating confidence and job satisfaction in this new position, your new employer has decided to let you select your first client.

For this task, you may select your client from your actual place of employment, a local small business, or a well-known public company. The client must operate internationally in at least some aspects of its business and allow for a response to each aspect in this task.

Note: Any information that would be considered confidential, proprietary, or personal in nature should not be included. Do not include the actual names of people, suppliers, the company, or other identifiable information. Fictional names should be used. Also, company-specific data, including financial information, should not be included but may be addressed in a general fashion if appropriate.

Create a risk register (suggested length of 3–5 pages) that identifies eight risks currently facing the company.
Explain how one of the identified risks stems from an aspect of the company’s global marketplace activities (e.g., manufacturing uncertainties, problems with suppliers, political instability, currency fluctuations).
Describe the source(s) of each risk.
Explain how each risk stems from the described source(s) (suggested length of 1–2 sentences for each source).
Identify the risk level for each risk (i.e., high, medium, or low).
Justify each identified risk level in terms of the following:
• severity of the impact
• likelihood of occurrence
• controllability

Discuss an appropriate risk response for each risk from part A (suggested length of 1 paragraph per risk) to reduce the possible damage to the company.