Risk And Crisis Management Assignment Sample

Introduction Of Risk And Crisis Management

Risk management is a process for identifying, assessing, and controlling the financial and security risks of the organization. Risk management also impacted capital and earnings. Further, the main components of risk management, is risk identification, risk measurements, risk monitoring, and risk governance. Risk management also protects the potential loss of the organization, for example, financial loss damage to the reputation, or the harm of the employees. Apart from that, through the risk management process, organizations also identify their assessing threat, which impacts the business culture of the organization. Further, the risk management process also solves the risk factor, which is harmfully impacted the environment of the organization. Moreover, it also damages the reputation of the company.

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This report, there will be discussing about the risk of the Isle of Wight Festival, which was hit by travel chaos after the torrential rain, in the year of 2012.

About the scenario and its relevant stakeholders

The torrential rain mainly disrupted the summer because of the chaos at the Isle of Wight music festival. As expected, more than 55,000 of the people mainly travelled to the events with a seven-mile queue of traffic. The problem mainly started after a month of heavy rainfall overnights, where the car parks were churned up with mud when the car began to arrive. In this situation, queues prevented further cars, when the 600 people mainly left, when the board circling ferries as a service was mainly suspended (Theguardian.com, 2023). In this situation, some of the frustrated revellers hope that they arrive at the campsite very early to be given shelter overnight. In this station, Giddings mainly said that the festival mainly turned into a battle against nature. As a result, trackways and wood chips are also put down, which mainly creates a risk of the Wight Festival (Behringer, 2019). Further, more rain in the coming nights, which also create an issue in parts of Greater Manchester and also impacts the 100 mm paper in some places. Due to the heavy rainfall, the huge amount of water mainly falls in around 24 hours, as a result, many people suffer health risks due to the torrential rain. Apart from that, due to the rainfall, 20 cars do not pass, and as a result, people suffer in those conditions. The problems are also stressed after the heavy rainfall, as a result, too many people are also suffering from not achieving shelter overnight (Kitagawa, 2021).

The main stakeholder of this scenario is Adele Booth who mainly walked on the site of the bus for four hours. Another stakeholder is Giddings, who mainly said that this festival mainly turned into a battle against nature. As a result, the huge amount of rain mainly falls within 24 hours, and as a result, they also suffer in this condition. Further, the Met Office predicted that more of the rain is mainly coming during the nights as it rusts the issue mainly across the main part of Greater Manchester.

Risk-associated selected scenario

Risk Register

The lesson of learn from the incidents and their solutions to minimize the risk of the scenario

The torrential rain mainly impacted the Isle of Wight music festival as a result 55 thousand people were mainly impacted. Further, in these situations, the seven mine queues of traffic mainly turned to the mud baths and also left hundreds stranded in silence. On the other hand, for ministers, the risk of the Isle of Wight music festival gave protective clothing to the people who are mainly faced with the risk due to the torrential rain. The saviour, of this situation, also provided some clothes and shelter to the risk-associated people and also advise them to away from the risk-associated area, where mainly water increased the floods (Lancaster, 2023). Due to the impact of the torrential rain, the loss of livestock also impacted the peoples ' better healthy lifestyles. The problem mainly started after the rainfall overnight. As a result, the huge amount of cars was mainly impacted by the heavy rainfall. The saviour also protected their equipment which created a risk in nature.

To minimize the risk of heavy rail failure in this scenario of the Isle of Wight music festival, the severe, mainly given shelter to the people by which they feel better comfortable (O'Hagan, 2022). Moreover, the Savior also provides flood protection equipment to the people to protect their health. On the other hand, in this festival more than 600 people are impacted due to heavy rainfall, as a result, the saviour also provided their clothes and a huge amount of food to save their better health condition. Further, the saviour also provides backup shelter, the risk associated with people cleaning and changing their wet clothes to minister the risk of the health hazard.

Two stakeholder groups had been adversely affected by the torrential rain and has accumulated critical learning from the torrential rain in the Isle of Wight music festival. The incident has been a major learning curve for the Hampshire police. It is because the police were not prepared with emergency evacuation plans for the visitors even though Hampshire is well known for the torrential downpour and its effect on traffic congestion. This could have eradicated the possibility of the seven-mile long queue and the visitors would have not been stranded. Therefore, Hampshire police have learnt the lesson of keeping an emergency evacuation ready for deployment during adverse weather conditions. In an attempt to prevent the repetition of such threats, the police have been abiding by the PersonalEmergency EvacuationPlantosupport the transportation of disabled persons to safe shelters. PersonalEmergency EvacuationPlanidentifiesthe needs of disabled people and make necessary arrangement for emergency evacuation during adverse weather conditions. The presence of such response is in alignment with the prospect theory of risk management as it states that the people choose an option after they estimate perceived likelihood of the risk occurrences by observing a real-life actual occurrence of such event as the Hampshire police have chosen the option of premature deployment of emergency evacuation plan after the risk occurred during the Isle of Wight music festival. Wakker (2019) has supported that the prospect theory of risk management is resembled by the development of precautionary measures for future events after the event has transpired. Therefore, it is observed that the Hampshire police have aligned with the prospect theory of risk management while coming up with the PersonalEmergency Evacuation Plan.

Another stakeholder group that has learnt lessons from the incident is the event management team. It is because the visitors would not have faced difficulty if the event management team had built emergency shelters for the visitors, however, it was missing. Therefore, the event management learnt that the development of emergency shelters is crucial for averting climate-related risks during a music event. In an attempt to address such risk in the future, the event management team has created transportable emergency shelters which can moved in during fire or climate-related emergencies. The prevalence of such response is in alignment with the prospect theory of risk management as its signifies the importance of reducing the extent of threat impact in future events after learning from an experience as the event management team resorted to such initiatives after the event.

Action and policy that could be proposed to the stakeholder for enhancement of the risk management.

In the scenario of the Isle of Wight festival being hit by travel chaos after torrential rain mainly examined that, due to the heavy rainfall, around 55000 people are mainly impacted by the Isle of Wight festival. As a result, the seven-mile queues of traffic mainly turned into a mud bath due to the suspended ferry services. With the increased risk of heavy rainfall, various stakeholders are involved to minimize this risk. Apart from that, this festive mainly forced risk management, where the towing cars were not laying in the woodcraft as a result, they were also impacted due to the heavy rain failure. Adele Booth is one of the stakeholders, who mainly take action, against the huge amount of rain failure. One of the major policies that could be adopted by the event management team is the establishment of the event risk committee. The development of the committee can assist in the identification of the climate-related risks and ascertain a streamlined approach to ensure safety that is compliance with the regulations. This is in alignment with the International Organization for Standardization (IOS) ERM Framework as the framework signifies the importance of regulatory committee to identify the scenario-driven risks such as climatic emergencies as an enterprise risk management process. Therefore, the action of establishing an event risk committee for the stakeholder is developed from the International Organization for Standardization (IOS) ERM Framework.

Further, this stakeholder mainly said that to reduce the heavy rainfall, they take some action to identify the main impacted area of the festival, due to the overnight rainfall.

on the other hand, another stakeholder in this scenario is Met Office, who mainly predicted that the huge amount of rain in the coming night would create an issue for the festivals, as a result, this stakeholder also provided better shelter for the people who are mainly impacted to the torrential rain. On the other hand, Giddings another stakeholder in this festival, said that the weather is horrendous as a result they mainly suffer a huge amount of bad health conditions (Boyd, 2022).

Apart from that, Lloyd Shepherd is a writer who mainly participated in the festival with their friend and they also faced heavy rainfall. In this situation, they also provide the other people with food safety equipment to rescue them from these conditions. Apart from that, the discussion of the above stakeholder also gave their clear solution on how to minister this risk management area due to heavy rainfalls.

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Conclusion

The above discussion, conclusively says that the torrential rail impacted the festival of the Isle of Wight music, where an expected 55000 number of people are mainly travelling to the events, who are mainly faced with a huge amount of life risks. Apart from that, because of the impact of the heavy rainfall, the festivals programmed also hampered. Apart from that, for the heavy rainfall, the saviour also gives the people a grab jacket by which the risk associated people also feel comfortable. Further, these incidents mainly teach how to accept this situation with heavy rainfall impacting the festival.

References

• Behringer, W., 2019. Tambora and the year without a summer: how a volcano plunged the world into crisis. John Wiley & Sons.
• Boyd, D., 2022. Plagues and Pandemics: Black Death, Coronaviruses and Other Deadly Diseases of the Past, Present and Future. Pen and Sword History.
• Kitagawa, T., 2021. The Experience of Place in the Annual Festival Held in an Amazigh Village in Southern Tunisia. Sustainability, 13(10), p.5479.
• Lancaster, C., 2023. The biblical flood myth revisited: representations of flood and deluge in climate fiction (Doctoral dissertation, Bath Spa University).
• O'Hagan, L.A., 2022. Fashioning the “People's Guitarist” The Mythologization of Rory Gallagher in the International Music Press. Rock Music Studies, 9(2), pp.174-198.
• Sheller, N., 2022. Sustainability in Single-Destination Music Festivals: Burning Man and Bonnaroo (Doctoral dissertation, Arizona State University).
• Theguardian. com,2023. About us, Available at, https://www.theguardian.com/music/2012/jun/22/isle-of-wight-festival-rain#:~:text=The%20torrential%20rain%20that%20has,left%20 hundreds%20 stranded [Accessed on 31 the July]
• Wakker, P.P., 2019.Prospect theory: For risk and ambiguity. Cambridge university press.