Risk Management model for Mitigation Essay Example | Topics and Well Written Essays - 500 words

Risk Management model for Mitigation - Essay Example However, there is an effective method of developing a records management system: first, it is crucial to determine the risks associated with the system. After identifying them, then determine the probability of the risk’s occurrence. After the risk’s occurrence capability, the potential impact of the risk should be analyzed. Next, each risk should have a response (mitigation) to counter it, if it occurs. This will lead the management to establish risk controls that can apply in suppressing the occurrence of risks, and finally, it is important and critical to keep track of the risk controls through measuring effectiveness, and monitoring them closely (Rush & Vednere, 2014). Taking the U.S. Department of Education as a case study, the following steps can apply in reducing the risks associated with records management (â€Å"Module A1: School Records†, 2014). There should be: Some records management projects collapse due to ignorance of the managing parties to figure out signs that indicate danger. Such include poor scoping of duties, roles and objectives, improper communication within the project, lack of a strong project manager, failure to weigh input and output metrics, a weak contingency or assessing plan, and losing track of the overall objectives (Haughney, 2014). These signs, if put into consideration, are a sure way of avoiding failure in a data management project. This is in regards to your recent letter requesting for an insight into the importance of our risk-based approach to effective record management. We are interested in advising our clients on quality services. Our model of records management works by highlighting the risks that your company might face in the practice and comes up with means of preventing, countering, or minimizing their potential effects. In addition, it comes with a monitoring and evaluation mechanism, hence enabling prediction of oncoming events (cite). This