The Pasta House Co is to be a full service, family Italian restaurant offering affordable, high quality Italian cuisine inspired by authentic family recipes. The goal is to provide customers with an entire dining experience that exceed's their expectations on every visit. The number of employees are now 21 including management team Risk is inherent in everything The Pasta House Co does. In many of The Pasta House Co’s activities, it is something that we currently manage and control in a variety of ways. However we do not have a formalised, integrated and visible process to identify risk exposures across all our activities and to provide us with an assurance that these exposures are adequately controlled and any gaps are rectified.
Our aim is to achieve best practice in controlling all the risks to which The Pasta House Co is exposed. We will achieve this by identifying our priority exposures, addressing these, incorporating appropriate risk management strategies, risk improvements and contingency planning into our business, monitoring and reviewing ongoing risk to account for changes in our operations and to enable us to make well-informed decisions on risk controls.
As the first step of this process, this document outlines the framework for The Pasta House Co’s risk management. Within this framework, training will provide appropriate tools and practices for the effective management of risks. The next step will be to build on this framework to further develop risk management plans for Business Units and contracted services. Our challenge is to infuse risk management into our culture, our everyday business operations and those of our contractors and business partners.
The Pasta House Co
RISK MANAGEMENT POLICY STATEMENT
The Pasta House Co is committed to the management of risk to continue to protect its:
Customers, clients and stakeholders
Employees, volunteers and their skills
Quality of service
Assets and intellectual property
Contractual and statutory obligations
Image and reputation
Risk management is a key part of improving our business and services to be a leading Organisation. Our aim is to achieve best practice in controlling all the risks to which our business is exposed.
To achieve this aim, risk management standards will be created, maintained and continually improved. This will involve risk identification and risk evaluation linked to practical and cost-effective risk control measures commensurate with our business.
Purpose Of This Document
The purpose of this document is to set out a plan for ensuring that Risk Management is considered and included in the business and operations of The Pasta House Co, and to provide guidelines for its implementation.
Goals of Risk Management at The Pasta House Co
The goals behind introducing Risk Management into The Pasta House Co are threefold:
To provide an assurance that The Pasta House Co has identified its highest-risk exposures and has taken steps to properly manage these. *
To ensure that The Pasta House Co’s business planning processes include a focus on areas where risk management is needed. *
To establish a process across The Pasta House Co that will integrate the various risk control measures that The Pasta House Co already has.
CONTEXT AND BACKGROUND
What Is Risk Management?
Risk is usually defined as an assessment of the possibility of some adverse event occurring and the likely consequences of this event. Risk is inherent in the functions and activities The Pasta House Co and its service providers. As the consequences of an adverse event may include an inability to meet stakeholder and customer requirements, financial loss, organisational or political...
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