ASSIGNMENT

INDIVIDUAL COURSEWORK ASSIGNMENT 1



Introduction2

Discussion2

Overview of Company2

Assessment of Exposure2

Threat Risk and their Solutions3

Risk Assessment3

Identification of Risk3

Risk Reduction Measurement4

Reduction of Risk5

Analysis5

Action Required6

Process to Implement Procedure6

Conclusion6

References8

INDIVIDUAL COURSEWORK ASSIGNMENT 1

Introduction

The enterprise risk management is the process that is affected by the board of director's entity (Beasley & Clune, 2005). Top level management and other business personally that applied the business strategy settings and design it to identities the potential event that might affecting the entity and managing risk within the appetite risk, in order to provide the reasonable assurances related towards the organization objectives achievement. The purpose of this paper is encompassing the risk management in .Chesapeake Energy. The company head quarter has been exists in the Oklahoma City and the company holds the most considerable marketing businesses and the services of the oil field. This paper is also aimed to look at the policies and procedures that taken by the Chesapeake Energy and also defined the detailed assessment of the enterprise risk management procedures that are followed by the organization.

Discussion

Overview of Company

The Chesapeake Energy is one of the leading procedures of the natural gas in the United State. The major operation of the company is includes tapping the oil field undiscovered areas and separates the United States natural gas field (Moeller,2007).

Assessment of Exposure

The potential strength of the risk management process gets young thinking about the much potential risk that might affect the company project. This is can thinking about taking proactive action sand mitigation in order to preventing them or tries to limit the impact that they may occurs on project works. The company is not able to complete the limit of task. The risk management another potential strength is often allows thinking about the opportunities that help the project to improve. The risk is going hand in hand with creating opportunity.

The risk assessment is the process that is forms the cornerstone in the effective Enterprise Risk Assessment program. This system is assessing that performed consistently and systematically throughout the management and organization that is empowered to focusing the attention over the most significant and effective manner that makes most decision information. According to Bonica, (1994) organization is gaining the ability that prioritizing the capital deployment and measuring the most relative performance across the various entities or objectives that potentially reduce the significance and reduces the negative evens and the losses that are attached with it. The most effective risk assessment in the organization can also leads the better coordination of multiple risk responses and effective way that addressing threaten in more than a single business functions or areas (Simkins, & Simkins, 2013).

Threat Risk and their Solutions

Risk Assessment

There are the following risk assessment processes that are involved in the COSO Enterprise process of Risk Assessment that involves highlighting all the activities that is performed by the Chesapeake.

Identification of Risk

There exploration for the new reserves is considered as the always risky for the company. The outcome of the company in the long term case might be not much favorable and ...