Assignment task: The risk environment is the context in which the organisation operates. It is made up of several elements (inherent risk, external risk, risk appetite, residual risk, speed or velocity of onset and risk tolerance) that together shape the way an organisation conceptualizes and manages risk.
Read each scenario and identify the risk element.
a. The number of accidental injuries to children at Outback Child Care Centre has escalated over the last six months as the centre struggles to recruit quality educators.
b. After much discussion and debate management of Billabong Child Care Centre have agreed that the curriculum can include a degree of risky play for the older children.
c. Even though City Child Care Centre have a comprehensive range of children's health and safety policies and procedures in place, the rate of accidental injuries to children remains constant.
d. The number of families who have outstanding fees due to sudden loss of income has significantly increased at City Child Care Centre. Even though this is putting a financial strain on the service management have agreed to waiver all outstanding fees.
e. Outback Child Care Centre has not been successful in attracting qualified, experienced educators. For the last 12 months the centre has been operating with regulatory authority consent with below the minimum standards for qualified educators.
f. Over the last 18 months, Mountains Child Care Centre has been impacted by severe drought, bushfires and now floods.