Huffman Trucking Company
June 6, 2012
The company of Huffman Trucking requests a new Benefit Election System. The implementation includes a risk analysis and assessment to help decision makers become alert of threats that cause hazardous circumstances for the company. The risk assessment will help make sound and informative choices to reduce the risk of the company to exposure. Huffman Trucking is changing the benefits election system and creating a new package for reports, and tracking employee’s benefits. Huffman must take precautions to limit the degree of awareness of risk to the system. In general, companies do not look at certain factors for risk. The limitations in visual, potential liabilities, and faults in company systems in the benefits election system are addressed.
A proximate planned risk assessment can identify past weaknesses unseen, and the understanding of threats. The impact on some components can affect the validity of risk management when the components are in place. Expertise advice from outside firms helps in identifying threats and managing plans of action that leads to expensive plans but aids in reassurance of risk analysis. Usually companies with experts in data sources can oversee present operations and assets. Planning a risk assessment combines components crucial to completing, and correction in the analysis, (Cooper, Grey, Raymond, Walker, 2005).
Measures was taken or followed in identifying the threats. Charting internal and external threats that interfere with operations, and threatens assets is in the first measurement addressed. Threats identified as physical and non-physical, including hackers, angry employees, terrorists, natural disasters, and employees not trained. Providing a thorough list of potential threats big or small is critical in creating a plan to secure unwanted threats in the company, (Cooper, Grey, Raymond, Walker, 2005).