Question

REGARDING RISK ASSESSMENT

What’s the recommendation by the risk assessment team?
What are the final decisions made by HGA management? Justify their decisions based on cost benefit analysis.

PLEASE MAKE COPY PASTE AVAILABLE

MUST BE 250 WORDS

Answer 1

a) Recommendation's by the risk assessment Team are :

1. The members must update both the QRA and HRA whenever changes to system design or operations occur that could affect QRA or HRA calculations to ensure that estimates of risk are current and reflect changes in operating conditions and experience, assumptions, and program status (current Established Configuration).

2. The members shall continue the site-specific QRA and HRA processes at all sites. The development of assessments for sites other than the DCD will be greatly simplified because much of the methodology has already been established. The Teamshould continue to obtain interactive, independent expert reviews of all site-specific risk assessments. The team should heed the lessons learned from development of the QRA and should incorporate the changes recommended by the Expert Panel.

3. The QRA methodology manual should be updated to reflect the significant improvements that have been made.

4. The Team should expand its draft report on risk management policy, A Guide to Risk Management Policy and Activities, to encourage the establishment of a "safety culture" within the field.

b) What are the final decisions made by HGA management?

The HGA managements takes final decisions by checking each of it's assests whether the assests are facing threats. for example :

For the assest Employees the HGA management checks all the possoible threats like if there any Payroll Errors, Payroll Fraud, Accidental Loss/Release of Disclosure-Sensitive Information etc;

fot the asset Financial resources the HGA management checks all the possoible threats like if there any Loss of Information due to Viruscontamination, Payroll Fraud, Payroll Errors.

fot the asset Systems the HGA management checks all the possoible threats like if there any Payroll Fraud, Payroll Errors, Loss of Information due to Natural Disaster, ResourcesTheft.

and more more assets like Reputation of Agency and Networking and procurement documents and decides how to reduce such thtreats to the assets in it's final decision .

c) Justify their decisions based on cost benefit analysis?

The HGA management decisions based on cost benefit analysis are very useful and efficient as they help to remove or eventually reduce the possible threats to their assets which would cut down losses that occur due to these factors. Hence HGA management decisions helps in more profitability and are very useful in cost based analysis.