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King Edward VII College: Contingency Plan

This document provides a contingency plan template. It includes definitions of risk, likelihood, and consequence. It also describes risk treatment methods and the risk management process. The template is intended to help assess risks and plan contingencies related to meeting operational goals.

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Khuzama Zafar
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270 views3 pages

King Edward VII College: Contingency Plan

This document provides a contingency plan template. It includes definitions of risk, likelihood, and consequence. It also describes risk treatment methods and the risk management process. The template is intended to help assess risks and plan contingencies related to meeting operational goals.

Uploaded by

Khuzama Zafar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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This document is Contingency plan Template.

It is part of the supporting assessment resources for Assessment Task 2 of BSBMGT517.

King Edward VII College

Contingency Plan
The contingency planning process will be used by the management team to ensure that we plan for
contingencies related to meeting the goals of the operational plan.

It will be done so in the form of a risk management plan with the risks specifically related to the goals of the
operational plan.

Definitions
The following definitions are based on the Australian and New Zealand Risk Management Standard AS/NZS
4360:2004.

Risk
The chance of something happening which will have an impact upon objectives. It is measured in terms of
consequence and likelihood.

Likelihood
A qualitative description or synonym for probability or frequency.

Consequence
The outcome of an event or situation, expressed qualitatively or quantitatively, being a loss, injury,
disadvantage or gain. There may be a range of possible outcomes associated with an event.

Risk assessment
The overall process of risk analysis and risk evaluation.

Risk treatment/control methods


Selection and implementation of appropriate options for dealing with risk.
Conceptually, treatment options will involve one or a combination of the following five strategies:
 Avoid the risk.
 Reduce the likelihood of occurrence.
 Reduce the consequences of occurrence.
 Transfer the risk.
 Retain/accept the risk.

Risk management process


The systematic application of management policies, procedures and practices to the tasks of establishing the
context, identifying, analysing, evaluating, treating, monitoring and communicating risk.

© J&S Learningwork 2019 Page 1


This document is Contingency plan Template.
It is part of the supporting assessment resources for Assessment Task 2 of BSBMGT517.
Risk assessment legend

© J&S Learningwork 2019 Page 2


This document is Contingency plan Template.
It is part of the supporting assessment resources for Assessment Task 2 of BSBMGT517.

Risk assessment
Scope of assessment:
Critical success factors:
Internal & external stakeholders:
Risk Consequences Risk rating Contingency Person responsible Priority Monitoring process
As calculated rating
from above

© J&S Learningwork 2018 Page 3

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