Government Agencies: Risk Management Plans Comparison

📄 Words:	1730
📝 Subject:	Risk Management
📑 Pages:	7
✍️ Type:	Essay

Introduction
Comparative Analysis
Conclusion
Works Cited

Introduction

Government agencies achieve their aims by implementing appropriate projects and supporting them to ensure that they are successful. The emergence of risks might affect the effectiveness of such organizations. This challenge explains why many government entities put in place powerful risk management strategies to achieve their projects’ goals. Three government entities: the General Directorate of Residency and Foreigners Affairs (GDRFA), the Road and Transport Authority (RTA), and the Dubai Municipality (DM) has come up with diverse risk management plans. This paper gives a comparative analysis of the risk management plans implemented by the agencies.

Comparative Analysis

GDRFA has made risk management a critical aspect of its strategy. Since the agency addresses the needs of travelers and foreigners, any risk can disorient its operations and affect the quality of available services. Risk management entails continuous monitoring of breakdowns and ineffectiveness of different systems (see Table 1). The power of innovation has led to the use of advanced apps to empower workers and beneficiaries.

Employees and foreigners can use different apps to report risk concerns or issues. The leaders have also combined strategic, operational, and project perils (Pritchard 64). Consequently, any failure is addressed within the shortest time (Department in the General Directorate of Residency and Foreigners Affairs). However, the agency finds it hard to collect adequate data and make informed decisions.

RTA has implemented a powerful project risk register (Deloitte Global Services Limited). This centralized system is composed of an enterprise structure that is used to monitor unpredictable events and offer real-time information. This system makes it easier for different players to monitor any form of component or system failure (Road and Transport Authority). The potential cause of the breakdown is identified to restore it within the shortest time possible. Training and empowerment are crucial measures implemented to sensitize employees and ensure that they are prepared for any form of threat (see Table 2). Since the country will host the famous World Expo 2020, RTA must enhance its risk management system’s scope.

For Dubai Municipality, a wide range of risks can be predicted such as accounting malpractices, budgeting, payroll issues, and fraudulent activities (see Table 3). The agency coordinates different efforts and utilizes adequate resources to ensure different departments are prepared for such risks (Dubai Municipality). An integrated system is used in this organization to monitor potential challenges and address them whenever they occur.

The concept of automation is considered to restore operations within the shortest time possible (Hardy 69). Unfortunately, there are specific threats such as theft and loss of resources that are hard to define (Hopkin 72). This gap explains why evidence-based information and concepts from different municipalities and county governments across the globe can offer meaningful insights to DM.

Table 1. GDRFA Risk Management Plan

Process 1	Planning risk management
Assess	Advantages		Most of the risks are clearly outlined.
	Disadvantages		Some predictable risks are hard to analyze.
Criticize	Limitations		Some risks are not captured in the plan.
	Shortages		This is due to insufficient data.
	Deficiencies		Some risks are hard to tackle.
Suggestions for improvements			Leaders should pay attention to possible threats and come up with evidence-based approaches.
Process 2	Identifying risks
Assess	Advantages		Identified risks are defined and described efficiently.
	Disadvantages		It is impossible to categorize all threats.
Criticize	Limitations		Some risks are unknown.
	Shortages		Available data might be insufficient.
	Deficiencies		Some risks are hard to tackle.
Suggestions for improvements			The agency can collect more data to identify potential risks.
Process 3	Performing qualitative risk analysis
Assess	Advantages		The unique features of specific risks are known and analyzed.
	Disadvantages		The features of unpredictable risks are usually hard to define.
Criticize	Limitations		Insufficient data collection methods.
	Shortages		Lack of adequate information on unpredictable risks.
	Deficiencies		Data unavailability.
Suggestions for improvements			Project managers should engage in continuous learning.
Process 4	Performing quantitative risk analysis
Assess	Advantages		The features of identified risks are defined and analyzed.
	Disadvantages		The features of unpredictable risks are undefined.
Criticize	Limitations		Available data is usually inadequate.
	Shortages		Adequate information on risks with low impacts is needed.
	Deficiencies		Some data is missing.
Suggestions for improvements			There is a need to source for more information.
Process 5	Planning risk responses
Assess	Advantages		Essential actions are undertaken to respond to risks.
	Disadvantages		Some threats have negative impacts on different departments.
Criticize	Limitations		The impact of some risks might be unknown.
	Shortages		Some perils have complex impacts that are hard to deal with.
	Deficiencies		Such threats are uncontrollable.
Suggestions for improvements			Control over the risks with medium influence should be maximized.
Process 6	Controlling risk
Assess	Advantages		The identified risks are always under control.
	Disadvantages		Some risks still affect the agency’s effectiveness.
Criticize	Limitations		Some threats have an unknown impact.
	Shortages		Some risks might have an impact that is not possible to deal with.
	Deficiencies		External risks are uncontrollable.
Suggestions for improvements			The control over the risks with medium influence has to be increased.
Overall project risk plan assessment:
Conclusion		GDRFA has an effective risk management plan that can be used to identify potential risks.
Recommendations		More information on the risks with probable influence should be collected.
Lessons learned		Some risks are unknown. This gap makes it hard for the agency to deal with them.

Table 2. Road and Transport Authority (RTA) Risk Management Plan.

Process 1	Planning risk management
Assess	Advantages		Predictable risks are outlined.
	Disadvantages		Managers cannot predict every risk.
Criticize	Limitations		There are unknown risks in the plan.
	Shortages		Insufficient data.
	Deficiencies		Some risks are hard to tackle.
Suggestions for improvements			The team should pay attention to every potential disadvantage and use previous experience to predict future risks.
Process 2	Identifying risks
Assess	Advantages		The plan provides a thorough description of the risks.
	Disadvantages		It is impossible to identify every peril.
Criticize	Limitations		Some risks are unknown.
	Shortages		The data might be insufficient.
	Deficiencies		Some risks cannot be tackled.
Suggestions for improvements			It is necessary to collect more data to identify some unknown risks.
Process 3	Performing qualitative risk analysis
Assess	Advantages		The unique features of specific threats are known.
	Disadvantages		The features of unknown/unpredictable risks are hard to define.
Criticize	Limitations		Insufficient data.
	Shortages		Information on medium level risks is needed.
	Deficiencies		Data unavailability.
Suggestions for improvements			Project managers should look for adequate information.
Process 4	Performing quantitative risk analysis
Assess	Advantages		The features of the identified risks are defined.
	Disadvantages		The features of unpredictable risks are undefined.
Criticize	Limitations		Some data is inadequate.
	Shortages		Adequate information on risks with medium level impacts is needed.
	Deficiencies		Some data is missing.
Suggestions for improvements			There is a need to source for more information.
Process 5	Planning risk responses
Assess	Advantages		Essential actions are taken seriously.
	Disadvantages		Some risks tend to have average influence.
Criticize	Limitations		The impact of some risks might be unknown.
	Shortages		Some risks tend to have impacts that are hard to deal with.
	Deficiencies		Some risks tend to be uncontrollable.
Suggestions for improvements			Control over the risks with medium influence should be maximized.
Process 6	Controlling risk
Assess	Advantages		The identified risks are always under control.
	Disadvantages		Some risks still have their impacts.
Criticize	Limitations		Some perils have an unknown impact.
	Shortages		Some risks might have an impact that is hard to deal with.
	Deficiencies		Some hazards are uncontrollable.
Suggestions for improvements			The control over the risks with medium influence should be increased.
Overall project risk plan assessment:
Conclusion		RTA has a detailed plan that can be used to identify every potential risk.
Recommendations		More information on the risks with an average influence level should be collected.
Lessons learned		Some risks are unknown, thereby being hard to tackle.

Table 3. Dubai Municipality (DM) Risk Management Plan.

Process 1	Planning risk management
Assess	Advantages		Agency outlines predictable/potential risks.
	Disadvantages		Managers are unable to predict certain risks.
Criticize	Limitations		The plan misses some unknown risks.
	Shortages		Insufficient data is collected.
	Deficiencies		Some risks are impossible to tackle/mitigate.
Suggestions for improvements			The risk management team should pay attention to possible risks and tackle them using evidence-based data.
Process 2	Identifying risks
Assess	Advantages		There is a thorough description of the risks.
	Disadvantages		It is impossible to identify all the risks.
Criticize	Limitations		Some risks cannot be defined.
	Shortages		The available data might be deficient.
	Deficiencies		Some risks are impossible to tackle.
Suggestions for improvements			It is necessary to collect crucial data to analyze every unknown risk.
Process 3	Performing qualitative risk analysis
Assess	Advantages		The unique features of specified risks are clearly defined.
	Disadvantages		The features of unknown/unpredictable risks are hard to define.
Criticize	Limitations		Insufficient data.
	Shortages		Medium level risks lack adequate data or information.
	Deficiencies		Data unavailability.
Suggestions for improvements			Project managers should look for more/adequate information to improve the plan.
Process 4	Performing quantitative risk analysis
Assess	Advantages		The features of the outlined risks are defined.
	Disadvantages		The features of unpredictable risks are undefined.
Criticize	Limitations		Available data is inadequate.
	Shortages		Adequate data on risks with medium level impacts is needed.
	Deficiencies		Some data is missing.
Suggestions for improvements			Managers should gather adequate information.
Process 5	Planning risk responses
Assess	Advantages		Essential actions are taken.
	Disadvantages		Some risks tend to have average influence.
Criticize	Limitations		The impacts of undefined risks might be unknown.
	Shortages		Some risks tend to have impacts that are hard to tackle or mitigate.
	Deficiencies		Some risks are uncontrollable.
Suggestions for improvements			Control over risks that have medium influence must be maximized.
Process 6	Controlling risk
Assess	Advantages		Identified risks are efficiently controlled.
	Disadvantages		Some risks still have negative impacts.
Criticize	Limitations		Some threats have unknown impacts.
	Shortages		There are risks whose impacts are impossible to deal with.
	Deficiencies		Some risks tend to be uncontrollable.
Suggestions for improvements			The control over the risks with medium influence has to be increased.
Overall project risk plan assessment:
Conclusion		DM has a sustainable and efficient risk management plan that can be used to deal with a wide range of threats.
Recommendations		More information on the risks with adverse impacts should be collected.
Lessons learned		Some risks are natural, thereby being hard to tackle.

Conclusion

Despite the existence of similarities and differences in the risk management plans of the above government agencies, what stands out is that undefined risks should be pursued diligently using evidence-based data. The move will improve every agency’s risk management plan and deliver positive results. This strategy will meet the needs of many people who seek services from the agencies.

Works Cited

Deloitte Global Services Limited. “Dubai’s RTA: Applying State-of-the-Art Risk Management to a Transport Infrastructure.” The Wall Street Journal. 2015. Web.

Department in the General Directorate of Residency and Foreigners Affairs. Naturalization and Residency Administration, 2018. Web.

Dubai Municipality. Dubai Municipality, 2018. Web.

Hardy, Karen. Enterprise Risk Management: A Guide for Government Professionals. Wiley. 2014.

Hopkin, Paul. Fundamentals of Risk Management: Understanding, Evaluating and Implementing Effective Risk Management. 4th ed., Kogan Page Publishers. 2017.

Pritchard, Carl L. Risk Management: Concepts and Guidance. 5th ed., CRC Press. 2014.

Road and Transport Authority. Road & Transport Authority. 2018. Web.

Introduction

Comparative Analysis

Conclusion

Works Cited

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