...Running head: JIT2 (RISK MANAGEMENT): TASK 1A 1 JIT2 (Risk Management): Task 1A It has been stated that, "Denial is a common tactic that substitutes deliberate ignorance for thoughtful planning," Charles Tremper (n.d.) who authored various risk management books. We have been hired, as a consultant in our first task is to create and present to management of business contingency plan combined with risk management to our new client. There has been some concern from both the IT department and legal departments about personal identifiable information sensitive information, client records, and other sensitive information regarding the ethical use and protection of this information. Our goal is to have client confidence along with some sense of job satisfaction; therefore, our boss has informed us that we get to choose our very first client. Our selection can be the place we actually work, any local business, or even a Fortune 500 company. One requirement is that our client must operate globally throughout its business. We will exclude any proprietary information, confidential information, or anything that can be considered sensitive. No names of real people involved with the business, any suppliers, or anything else that could be identifiable will be used. Instead we will only use made-up or fictional names for this task. No actual financial data will be used but rather be addressed using vague or generic terms when appropriate. Due to concerns in the global marketplace...
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...JIT2 (Risk Management): Task 1A Our firm has been hired as a consultant, the first task my team and I have been assigned is to create and present to management both a risk management and a business contingency plan for our client. Both the legal and IT departments have expressed their concerns regarding the ethical use and protection of sensitive data, customer records, and other information systems content of both the firm and the client. In an effort to follow the company’s goal of each project building employee confidence and job satisfaction, the team has been allowed to select our first client. The client we choose can be a former or current employer, any local business, any nationally or internationally held publicly traded or privately held company. The one prerequisite is that the client operate globally in at least one aspect of it business. To help ensure anonymity and security any information that could be considered confidential, proprietary, or personal in nature will be excluded. No actual names of people, suppliers, the company, or other identifiable information will be included. In addition every effort will be made to ensure fictional names used will be obscure as possible. Company-specific data, including financial information, will be addressed in the most general and generic means possible when appropriate. Per the client’s request will address the following items: A. Generate a risk register that includes eight valid risks faced by the client. The...
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...Task 1 (C) – JIT2 Risk Management C. Recommendations Create an implementation plan in which you recommend ways of implementing, monitoring and adjusting the BCP. For the task of creating a Business Continuity Plan (BCP), I will follow a logical and systematic formula for implementation, monitoring and reviewing the plan for United Health Group. The goal is to minimize the impact of any disruption by containing it within a predictable and predetermined period of time. To do this, I recommend that this plan be developed and implemented with as many preventative controls, contingency resources, and procedures designed to allow the organization to quicky bounce back from any long-term business interruption. With this document I’ll present a workable DR plan that focuses not only on safeguarding critical data but also on the restoration of all normal business functions. The process for developing a sound Disaster Recovery plan will involve many layers of detail from the obvious to the not so obvious. Since disasters are by their nature unpredictable, this DR plan must be thorough enough to provide a certain amount of relief to know that if one does occur, the affects on the business will not be catastrophic. Disaster Recovery Topics: 1. Secure executive-level leadership commitment Senior leadership buy-in and support is critical to the long-term success of any enterprise level initiative. Disaster Recovery and Business Continuity Plans are no different. Further...
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...JIT2 Task (A) Risk Management Register: Risk | Description | Owner | Source | Likelihood of Occurrence* | Severity of Impact* | Controllability* | Macroeconomics Risks | Economic downturn could pose risk to sales development. | Accounting Team/Sales Team | Poor economy, not enough jobs, people not purchasing as much | High | High | Low | Consumer Demand Risks | Not being able to respond to consumer wants/demands quickly enough, leading to short-term revenue loss | Marketing Team | Consumer interests change, other companies offer newer/better product | Medium | Medium | Medium | Industry Consolidation Risks (bargaining power) | Decreased bargaining power, price wars, inflated discounts, limited space within retailers | Sourcing, Pricing, Marketing and General Counsel Legal Teams | Market consolidation and strategic alliances | High | Medium | Medium | Political and Regulatory Risks | Trade policies | Government Relations Team/General Counsel Legal Team | Restrictions on importing and tariffs that disrupt free flow of goods | Medium | Medium | Low | Legal Risks | Patents and third-party trademark infringement- must be careful not to raise concern for risk when creating and marketing new products | General Counsel Legal Team | Many competitors in same business marketing similar products | Low | Medium | High | Product Counterfeiting and Imitation Risks | Other vendors stealing logos and designs and portraying their imitation products as original | Product Branding...
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...JIT2 Task 1 Part B ManIT, LLC Business Continuity Plan The information below is a Business Continuity Plan for ManIT, LLC to follow in the possible aftermath of a disaster causing major disruptions to the business. Preparation, response, and recovery from a disaster affecting the operations of ManIT, LLC, requires the full efforts of multiple personnel in many different departments. If such of an event does happen, this plan could be followed and monitored by the Continuity Management Team within ManIT, LLC. The Business Continuity Plan gives the responsibilities of the Continuity Management Team, where their goal is to make procedures that will help with the ManIT, LLC business functions. If such an event or disaster that does affect any functional area of the business, the Continuity Management Team would be there to facilitate all of the areas affected by the event or disaster and personnel involved. This team should include other smaller groups that would entail operations and communication, and damage assessment with each role of the groups to be defined whenever a major business disruption occurs. The leader of the Continuity Management Team will be a Coordinator and would be the central point of contact for all execution of plans. B1. Strategic Changes There are many changes that ManIT, LLC should implement to ensure that operations should continue should a disruption occur. In recent year, the Department of Homeland Security recommended...
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